Bancor exchange resumes operation after a $23.5 million hack

12 Jul, 2018
by Ryan McInally
Bancor exchange resumes operation after a $23.5 million hack

After losing $23.5 million worth of crypto from their exchange, Bancor announced on twitter that their exchange has begun operation again.

According to the company 12.5 million worth of Ethereum, $1 million worth of NPXS and $10 million of Bancor’s BNT was stolen in the hack. No customers wallets were compromised in the hack, according to Bancor. All the Ethereum that was stolen was from the companies connector balance, which acts as the exchanges reserve. The other stolen tokens were taken from smart contracts “that the breached wallet had access to on the network.”

In a statement the company addressed the hack with the following tweet.

The company also took down their web app for maintenance but recently resumed its operation.

Overall feedback has been positive for the exchange as some users have praised the exchange for how they handled the situation.

Either way, most people were happy to hear their funds were safe and secure.

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