Two stolen bitcoin in a month

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BERMUDA (Bitdotcoin) – Hackers who stole bitcoin worth over $40 million from the major Binance cryptocurrency exchange have moved the tainted coins to a number of digital wallets, researchers said on Thursday, potentially throwing up clues to those behind the heist.

Binance, one of the world’s biggest exchanges, said on Wednesday that hackers had stolen around 7,000 bitcoin through phishing and viruses, the latest in a string of cryptocurrency thefts to hit exchanges across the world.

The attack was conducted using diversified techniques including viruses and phishing. According to Binance, stolen funds constituted approximately 2 percent of total BTC holdings of the exchange. In order to prevent user’s funds from being affected and guarantee stable work of the platform, Binance used its SAFU fund to cover the loses. The Secure Asset Fund for Users was established on July 14, 2018 and consists of 10 percent of all trading fees.

Too in a past week ago

A team at gambling services company Betlake when hackers were able to get hold of the unencrypted private keys that were kept online for backups. The amount stolen at that time was “small” – i.e. a total loss of 1,000 BTC.

To convert bitcoin to traditional money, hackers would have to move the stolen coins to a cryptocurrency exchange, which usually require details of account holders’ identities. But such checks are, in reality, far from watertight, said Pawel Alexsander, information officer.

The attack was conducted using diversified techniques including viruses and phishing. According to Binance, stolen funds constituted approximately 2 percent of total BTC holdings of the exchange. In order to prevent user’s funds from being affected and guarantee stable work of the platform, Binance used its SAFU fund to cover the loses. The Secure Asset Fund for Users was established on July 14, 2018 and consists of 10 percent of all trading fees.

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