Bancor Wallet Hacked, $13.5M Stolen

As noted by the developers, the hacked wallet was used to update the smart contract
10 July 2018   1219

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.

Binance Launchpad to Change IEO Rules

Binance is going to implement the lottery format for the next tokensale campaign
25 March 2019   70

Binance announced a change in the format of the next tokensale on the Launchpad platform to a lottery. At the same time, the number of lottery tickets per account will depend on the size of the steak in the BNB for 20 days before IEO.

Note that one account can get up to 5 lottery tickets. Winners will be selected by randomizer.

BNB Balance to Lottery Tickets Ratio
BNB Balance to Lottery Tickets Ratio

It is noteworthy that within 20 days before the lottery, the BNB-deposit snapshot will be carried out daily at 0:00 UTC to monitor the fulfillment of the conditions.

Each winning ticket will grant the right to purchase tokens for a fixed amount in BNB equivalent. As soon as the user informs the exchange that he is ready to use a certain number of tickets in case of their winnings, this obliges him to purchase tokens and the money will be debited automatically.

Binance acknowledged that the price of BNB may fluctuate due to daily snapshots, and its potential decline may not be covered by the benefit from the new token, and encouraged users to make informed decisions.

In addition, Changpeng Zhao urged the community to comment on the new format in a separate Twitter thread in order to make the necessary feedback-based changes, if needed.

During the Celer Network tokensale on the Launchpad platform again had bandwidth problems; many people did not manage to purchase tokens.