Cryptocurrencies are considered relatively safe due to their decentralized nature. A hacker attack with serious consequences shows that this is no protection against theft.
Hackers have stolen cyber currencies with a volume of 570 million dollars via a software interface of the world’s largest crypto exchange Binance. The attackers used the so-called bridge of the exchange’s own cryptocurrency BNBBNB=CCCL. This was announced by Binance boss Changpeng Zhao on the short message service Twitter.
Hackers target vulnerability
A “bridge” enables coins of different internet currencies to be exchanged. Because direct attacks on the IT systems of stock exchange operators are becoming more difficult due to increased security standards, criminals are increasingly concentrating on bridges as points of attack.
The attacker has since been pushed back, Binance said. The “majority” of the stolen goods are still in their digital wallet. So far, however, there has been no trace of coins with a volume of around 100 million dollars. Binance announced a new “control mechanism” to prevent such hacker attacks in the future.
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Binance hack just one of many attacks
The Binance platform hack is just the latest in a series of attacks. According to a survey by the research house Chainanalysis from August, cybercriminals have stolen around two billion dollars in 13 different attacks on bridges since the beginning of the year. The branch service CoinMarketCap.com According to BNB, it is currently among the top 10 cryptocurrencies with a market capitalization of almost $46 billion.
With material from Reuters