A BitCoin theft has been reported where Hackers have reportedly stolen £31m worth of BitCoin from the Japan based Binance Cryptocurrency exchange.
The Bitcoin theft saw hackers apparently steal approximately 7,000 BitCoins from a hot wallet owned by Binance that contained 2% of the company’s stock.
Bitcoin is currently valued at around £4,500 per coin, falling from a peak of £15,000 in December 2017.
The BitCoin theft at Binance was covered by its insurance fund and it stated that no individuals would be affected by the theft, however, it confirmed that it would be conducting a thorough review of its security and users were told to reset their authentication measures.
The company suspected that the BitCoin theft hackers may still control some user accounts that could be used to manipulate the values of BitCoin.
Whilst the identities of the hackers was not known, North Korean hackers have been accused of some of the biggest cyber thefts and, following heavy sanctions against the country, have been suspected on concentrating on BitCoin theft due to the recent value increase of them.
Binance’s concern is that the BitCoin theft hackers may still control some user accounts and could use their access to those accounts to manipulate prices.
A Norther Korean agency named Office 39, operating since the 1970s, is believed to have been making revenues of around $1billion annually through various illegal activities, gold smuggling, currency counterfeiting and drugs and, more recently, BitCoin theft.
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