Categories: Cryptocurrency hack

Bancor Suffers Security Breach – Hackers Stolen $23.5 Million Worth Cryptocurrency

Israeli based cryptocurrency exchange platform Bancor suffers Security Breach, hackers stolen $13.5 Million Worth Cryptocurrency.

According to the company statement, the hack attack took place on July 9, at 00:00 UTC and no user wallets have been compromised in the attack.

How Bancor Security Breach Occurs

Bancor website in maintenance now, according to their statement, hackers compromised the wallet that used to update the smart contacts and used to withdraw the Etherum that worth $12.5 million and $1 million worth Pundi X from the BNT.

“Once the theft was identified, we were able to freeze the stolen BNT that prevents the damage of $10 million from its crypto tokens.

Cointelegraph reports that stolen funds have been exchanges by hackers through instant conversion service Changelly.

Bancor didn’t reveal how the hackers penetrated into their system and the company says “we are working together with dozens of cryptocurrency exchanges to trace the stolen funds and make it more difficult for their thief to liquidate them.”

According to Bancor recent update “We are close to reactivating the Bancor Network. We appreciate your support and the healthy debate on the balance between security and decentralization that has ensued.”

Also Read

Japanese Syndicate Wallet Hacked – Cyber Criminals Stolen $10 Million USD

South Korean Crypto Exchange Coinrail Hacked and Attackers Steal $40M in Tokens

Bithump Hacked – Hackers Steal $31 Million Worth Cryptocurrency

Gurubaran

Gurubaran is a co-founder of Cyber Security News and GBHackers On Security. He has 10+ years of experience as a Security Consultant, Editor, and Analyst in cybersecurity, technology, and communications.

Recent Posts

Zero-Trust Policy Bypass Enables Exploitation of Vulnerabilities and Manipulation of NHI Secrets

A new project has exposed a critical attack vector that exploits protocol vulnerabilities to disrupt…

7 hours ago

Threat Actor Sells Burger King Backup System RCE Vulnerability for $4,000

A threat actor known as #LongNight has reportedly put up for sale remote code execution…

7 hours ago

Chinese Nexus Hackers Exploit Ivanti Endpoint Manager Mobile Vulnerability

Ivanti disclosed two critical vulnerabilities, identified as CVE-2025-4427 and CVE-2025-4428, affecting Ivanti Endpoint Manager Mobile…

7 hours ago

Hackers Target macOS Users with Fake Ledger Apps to Deploy Malware

Hackers are increasingly targeting macOS users with malicious clones of Ledger Live, the popular application…

7 hours ago

EU Targets Stark Industries in Cyberattack Sanctions Crackdown

The European Union has escalated its response to Russia’s ongoing campaign of hybrid threats, announcing…

11 hours ago

Venice.ai’s Unrestricted Access Sparks Concerns Over AI-Driven Cyber Threats

Venice.ai has rapidly emerged as a disruptive force in the AI landscape, positioning itself as…

12 hours ago