Binance freezes $5 million in funds looted from BtcTurk after alleged $54 million hack of Turkish exchange | Headlines | News | CoinMarketCap
06/23/2024 01:52
Turkish cryptocurrency exchange BtcTurk announced that a cyberattack affected the cryptocurrency stored in ten of its hot wallets following reports …
The Block Crypto News10 minutes ago
Foresight
Block
ZachXBT
Avalanche
CEO
Published on June 22, 2024 18:42 GMT+00:00edited on June 22, 2024 18:44 GMT+00:00
Turkish cryptocurrency exchange BtcTurk announced that a cyberattack affected the cryptocurrency stored in ten of its hot wallets following reports of suspicious transfers of Avalanche tokens on Saturday. The exchange noted that its cold wallets, which contain the vast majority of its assets, remain secure and the company remains solvent, according to the company's announcement.
Binance CEO Richard Teng announced on X that his company, the world's largest crypto exchange, is assisting BtcTurk with the investigation and has frozen "over $5.3 million in stolen funds so far."
Blockchain sleuth ZachXBT said that suspicious transfers of about $54 million in Avalanche tokens were likely connected to the attack following the results of a timing analysis. The funds were transferred …