Binance, a cryptocurrency trading platform, has fallen victim to a hack. An estimated $568 million was stolen, but most money was subsequently blocked.
CEO Changpeng Zhao confirms the hacking but says on Twitter that “the problem is under control”. Binance is the largest cryptocurrency trading platform in the world by volume. The platform has about seven million users.
According to security experts, blockchain data shows that someone stole two million tokens from Binance Coin (aka BNB) in two different transactions. Those tokens are worth about $568 million at current exchange rates. Unfortunately, only a small part of the money (87 million) was taken out of the Binance ecosystem, and the rest was blocked after the blockchain was shut down.
CEO Zhao promised customers that Binance would repay the losses caused by the hackers. More than $2 billion worth of crypto has been stolen this year, according to Chain analysis.
