Crypto Currency

Binance cryptocurrency exchange loses $40 million in hack

The funds are decidedly not safe.  Cryptocurrency exchange Binance announced a “large scale security breach” Tuesday afternoon, warning customers that unnamed hackers had managed to successfully steal 7,000 bitcoin. At current prices, this equals approximately $40 million.  But wait, it gets worse.  “Hackers were able to obtain a large number of user API keys, 2FA…


The funds are decidedlynotsafe. 

Cryptocurrency exchange Binance announced a “large scale security breach” Tuesday afternoon, warning customers that unnamed hackers had managed to successfully steal 7,000 bitcoin. At current prices, this equals approximately $40 million. 

But wait, it gets worse. 

“Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info,” Binance founder and CEO Changpeng Zhao (who goes by CZ) wrote in a press release. “The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used.”

While this sounds bad, and it definitely is, the loss of 7,000 bitcoin is just one of many potential problems affecting the exchange and its customers. 

“There may also be additional affected accounts that have not been identified yet,” CZ helpfully warns.

Read More

Be the first to write a comment.

Leave a Reply

Crypto Currency

Samsung makes it easier to buy Bitcoin on its phones

Samsung is diving deeper into cryptocurrencies.  On Thursday, the smartphone company announced a partnership with cryptocurrency exchange Gemini, making it easier for users in the U.S. and Canada to buy cryptocurrencies such as Bitcoin on Samsung phones.  This is done through Samsung’s Blockchain Wallet, which now integrates with the Gemini mobile app, allowing users to…

Samsung is diving deeper into cryptocurrencies. 

On Thursday, the smartphone company announced a partnership with cryptocurrency exchange Gemini, making it easier for users in the U.S. and Canada to buy cryptocurrencies such as Bitcoin on Samsung phones. 

This is done through Samsung’s Blockchain Wallet, which now integrates with the Gemini mobile app, allowing users to buy and sell cryptocurrencies. Users will also be able to view their Gemini account balances in the Samsung Blockchain Wallet app, as well as transfer their crypto into col

Read More

Continue Reading
Crypto Currency

Cryptocurrency Hardware Wallets Can Get Hacked, Too

Whether you think cryptocurrency is a scam or a salvation, those digital coins can store real-world value. The safest place to keep them is in what’s known as a “hardware wallet,” a device like a USB drive that stores your currency and private keys locally, w…

Whether you think cryptocurrency is a scam or a salvation, those digital coins can store real-world value. The safest place to keep them is in what’s known as a “hardware wallet,” a device like a USB drive that stores your currency and private keys locally, w…
Read More

Continue Reading
Crypto Currency

J.K. Rowling is four cocktails in and talking trash about Bitcoin

J.K. Rowling has been drinking a lot and you’d better believe she has some thoughts on Bitcoin. Noted TERF and author of The Cuckoo’s Calling, Rowling decided Friday was the perfect time to learn about the cryptocurrency Bitcoin. And so, like any celebrity who wants to start her day off with a ray of positivity,…

J.K. Rowling has been drinking a lot and you’d better believe she has some thoughts on Bitcoin.

Noted TERF and author of The Cuckoo’s Calling, Rowling decided Friday was the perfect time to learn about the cryptocurrency Bitcoin. And so, like any celebrity who wants to start her day off with a ray of positivity, she hopped on Twitter to engage

“I don’t understand bitcoin,” Rowling tweeted to Coindesk’s Leigh Cuen. “Please explain it to me.”

Over the course of the next several hours, as legions of crypto try-hards leapt at the opportunity to explain consensus algorithms, Rowling’s nascent views on Bitcoin turned from mildly inquisitive to a friendly mocking.

SEE ALSO: Not above the law: Steven Seagal’s shady crypto past under siege by SEC

Perhaps it was the fourth Old Fashioned speaking?

“People are now explaining Bitcoin to me, and honestly, it’s blah blah blah collectibles (My Little Pony?) b

Read More

Continue Reading
Crypto Currency

Invested Your Stimulus Check in Bitcoin? Here’s Its Value Today

A stimulus check worth $1,200 invested in Bitcoin in mid-April is now worth $1,640.U.S. Senators are pushing for a second wave of stimulus checks worth $2,000.While the U.S. is preparing to reopen, economic consequences from the pand…

  • A stimulus check worth $1,200 invested in Bitcoin in mid-April is now worth $1,640.
  • U.S. Senators are pushing for a second wave of stimulus checks worth $2,000.
  • While the U.S. is preparing to reopen, economic consequences from the pand…
    Read More
Continue Reading