Hackers steal USD 40 million from major Bitcoin exchange

One of the biggest Bitcoin exchanges, Binance, announced that hackers carried out a large scale security breach to steal USD 40 million.

The official release notes that the hackers were able to withdraw 7,000 Bitcoins in the transaction, impacting about 2 per cent of the company's total Bitcoin holdings.

The hackers carried out the attack through multiple independent accounts in a way that passed Binance's existing security checks. Binance said that a thorough security review will be conducted which will take about a week, during which all deposits and withdrawals will remain suspended.

(With inputs from agencies.)