Banking And InsuranceCryptocurrencyDigital MarketingErpFood And BeveragesHealthcareLegalMarketing And AdvertisingMedia And EntertainmentMetals And MiningOil And GasRetailTelecom
Artificial IntelligenceBig DataCloudCyber SecurityE CommerceEducationGaming And VfxIT ServiceMobileNetworkingSAPScience And TechnologySecuritySoftwareStorage
CiscoDatabaseGoogleIBMJuniperM2MMicrosoftOracleOracleRed Hat
CEO ReviewCompany Review

The Silicon Review Asia

Breach: Cryptocurrency Platform Bancor Hacked, $23.5 Millions of Worth Stolen

Breach: Cryptocurrency Platform Bancor Hacked, $23.5 Millions of Worth Stolen

Bancor, an Israeli-based platform, which deals with cryptocurrencies and its own Bancor tokens for trades, was reportedly hacked on Monday. Post incident, the platform’s website was temporally shut down as the hacker managed to breach the online security and stole about $23.5 millions of worth.

“We will be working together with dozens of cryptocurrency exchanges to trace the stolen funds and make it more difficult for the thief to liquidate them,” said a Bancor official.

According to a report, the hacker stole 24,984 in Ethereum worth $11.9 million, 229.3 million NPXS tokens worth $ 1 million, 3.2 million BNT tokens and its own token worth 10 million at the time of the breach.

Since BNT tokens are embedded with technology that can freeze funds, few amounts of it were saved. The freezing system is utilized in extreme situations where the company manages to stop any theft from stealing tokens and hence, to recover from the breach.

 The company stated that it raised $153 million by itself in its ICO in January 2017 and this incident cannot be considered as a scam because the founders wouldn’t have stuck around for 18 months and they would have stolen much larger sums of cryptocurrency.



Marketing Partnership: NBA, McDonald’s Will Jointly open NBA Experience Zones India

There is good news for all basketball fans in India. Very soon, NBA themed promotions and experience zones will be launched in India. The announcement...

Dunzo to Raise Funds from Google, others

Dunzo, the app which is trying to make life easier for the people upto some extent plans to raise about Rs. 183 crore from different investors which a...

Sapta Shakti Command Will Be Displaying Defence Technology Equipment at Jaipur Military Station

This event is organised with an aim to provide an opportunity where one and all can experience the developments in the field of defence and security-r...

Samsung is All Set to Roll out Its Galaxy A9 Smartphone On November 20

After Samsung unveiled its new Galaxy A9 smartphone in Singapore last month, the company is all set to launch it in India on November 20. In Singapore...