DragonEx, a Singapore-based cryptocurrency exchange, was hacked on 26 March, with many users losing huge sums of their cryptocurrency assets. The exchange claimed that a part of the stolen assets was retrieved and that they were working on recovering the remaining amount.
Following queries from a large number of users, Binance, the world’s largest cryptocurrency exchange, informed that they would be freezing any identify-able stolen funds from DragonEx. Binance’s statement said,
“A few guys asked about DragonEx funds. As always, @binance will freeze any identify-able stolen funds. Here is a snippet of a chart produced by our internal big-date risk mgnt system yesterday. Not much funds have came to Binance this time around. Hackers learn.
Changpeng Zhao, the CEO and Founder of Binance, notified users that Binance could identify most external exchange addresses. He added that the system greatly helped in their functioning, before adding that it was not foolproof. CZ refused to name any exchanges, but said that they were sharing the available information with other exchanges.
He took the opportunity to praise Binance and its efforts to strengthen internal security, while other exchanges focused on other parameters. CZ said,
“While many other exchanges were busy building Futures, shorting, etc in the bear market, we focused on internal security. The not immediately visible, but key foundational stuff.”
DragonEx had announced the hack and the subsequent loss of crypto-assets via their Telegram channel yesterday. The exchange said that ‘international policemen’ were looking into the matter and that they would announce the total loss soon.
An admin of the channel, Joanne Long, tracked the addresses the stolen funds were transferred to. According to the data collected, the assets lost included Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], Qtum, and Tether [USDT].
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Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
Crypto News – 26 June – Justin Sun on shaking down the Internet, Coin Metrics on Kin’s blockchain activity and more
— AMBCrypto (@CryptoAmb) June 26, 2019
Crypto News – 26 June
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Tone Vays on Bitcoin’s biggest strength: Tone Vays opined that Bitcoin’s biggest strength was the fact that it was completely “unconfiscatable” and that one’s BTC is completely safe if it is protected and secured with attention
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Tron Foundation launches new inititative: Justin Sun’s Tron Foundation announced a $20 million TRX buy-back plan to promote community activity and market stability
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Joe Kernen on Bitcoin, Libra: The once crypto-skeptic, CNBC Squawk Box’s Joe Kernen is of the opinion that Libra is for corporations, while Bitcoin is for the people
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Bloomberg on JPM Coin: According to a report by Bloomberg, the Jaime Dimon-led institution plans to launch the JPM coin and use it for bond transactions
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Fundstrat report on stablecoins: According to a recent report by New York-based Fundstrat Global Advisors, the FS CryptoFX Stablecoin index fell by a whopping 21 percent against BTC, with Gemini outperforming Tether [USDT]
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Read more at https://bit.ly/31UvjBz
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