Bancor Wallet Hacked, $13.5M Stolen

As noted by the developers, the hacked wallet was used to update the smart contract
10 July 2018   718

On July 9, at 00:00 UTC, unknown intruders cracked the purse on the Bancor platform, as a result of which 24,984 ETH ($ 12.5 million) and 229.35 million NPXS ($ 1 million) were stolen.

Bancor Twitter
Bancor Twitter

As noted by the developers, the compromised wallet was used to update the smart contract. It was through it that hackers were able to withdraw funds from the Bancor platform.

It is noteworthy that the project team was able to freeze the withdrawal of 3.2 million BNT ($ 10 million), since the platform protocol provides a quick response to possible threats in order to minimize damage to the community.

However, the output of ETH and NPXS still took place. Now the project actively cooperates with dozens of crypto exchanges to track stolen funds and prevent their sale by intruders.

Bancor allows the exchange of ERC-20 tokens via smart contracts outside of trading platforms.

The ICO of the project attracted $ 140 million in just three hours.

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Pure Bit to Refund Investors' Money

Another cryptocurrency scam storu may have happy ending
15 November 2018   93

The founders of the South Korean exchange Pure Bit, who were suspected of stealing investors' money, announced the return of funds.

According to the local edition of BlockchainROK, representatives of the exchange have already partially returned the money to some users and pledged to return all other funds.

On November 4, the exchange team launched the ICO with the goal of collecting about $ 30 million to create a crypto exchange. However, on November 9, Pure Bit closed the site, said goodbye to its investors and removed everyone from the group in the KakaoTalk messenger. Also, the founders of the exchange withdrew funds from the account that was used for ICO.

According to CCN, one of the issues traced the Ethereum address of the exchange and asked Upbit to block the account and freeze the funds. Upbit fulfilled this request.

This is Pure Bit. First off, I would like to apologize to everyone that was affected by the ICO. Since November 5, I raked in 16,000 ETH and did not open a crypto exchange as promised. I kicked out everyone in our social media chat groups and disappeared without any message. I negatively affected investors in the project psychologically and financially. I made an unforgivable mistake that cannot be turned around, blinded by money. It has been less than a day and I have already started to suffer from guilt. Although it cannot be compared with the hardship faced by the investors, I also felt significant guilt. I sincerely apologize to all of the investors in the ICO who were affected by the operation.

CEO of Pure Bit

The founder of Pure Bit also notified that he would return ETH 16,000 to depositors without taking into account the payment of services to a third-party company that organized ICO.