Decentralized cryptocurrency platform Bancor experienced a “security breach” on July 9. The posted an official statement related to the security breach which took place at around 00:00 UTC.Source
Bancor mentioned in the statement that they are “committing every resource to resolving it”. The details of the breach are still being investigated. However, the things which are confirmed are, a wallet used to upgrade some smart contracts was compromised. The wallet was then used to withdraw Ethereum token (ETH) worth $12.5 million from BNT smart contract. The hack came as a shock not only to the users but also to everyone else in the crypto-verse. In fact, Litecoin founder, Charlie Lee even took a dig at the ‘decentralized’ wallet.
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Bancor crypto exchange hacked; $12 million in ethereum stolen