8 months ago

On July 9, at 00:00 UTC, unknown intruders hacked a wallet on the Bancor platform, managing to thieve 24,984 ETH ($ 12.5 million) and 229.35 million NPXS ($ 1 million).

As noted by the developers, the compromised wallet was used to update the smart contract and was used by hackers to withdraw funds from the platform. The project team was able to freeze the withdrawal of 3.2 million BNT ($ 10 million), since the platform protocol can provide a quick response to possible threats.

However, hackers still managed to take ETH and NPXS out. Now the project is cooperating with crypto exchanges to track stolen funds and prevent their dissapearance into nowhere.

Earlier in the official Twitter account of the company, a statement about security problems was published and that the clients’ wallets were safe. Somewhat later, a message appeared about disabling the Bancor web application, with the promise to publish a detailed report about the incident later. At the moment, on the main page of the website there is an announcement of ongoing technical work.

Only in 2018 hackers stole more than 1.1 billion dollars worth of cryptocurrency. Most often they attacked crypto exchanges (27% of hackers activities).