Binance was stolen for the first time, 7000 BTC disappeared

On the morning of May 8, Binance, a world-renowned cryptocurrency exchange, issued an announcement stating that Binance discovered a large-scale security vulnerability at 17:15:24 on May 7, and hackers stole 7,000 bitcoins from Binance's BTC hot wallet at block height 575012.

Binance said hackers were able to exploit the vulnerability to obtain API keys, 2FA codes and potentially other information for a large number of users. The hackers used a variety of techniques, including phishing, viruses and other attacks.

However, this theft only affected the BTC in Binance's hot wallet, which accounts for 2% of Binance's total BTC. Other wallets are safe and unharmed.

For this part of the asset loss, Binance said it will use the SAFU fund to pay the full amount of the incident to protect user funds from being affected. Currently, Binance has suspended all Bitcoin withdrawals and deposits. Next, Binance will conduct a thorough security review, which is expected to take about a week.

It is worth noting that this is the first publicly acknowledged theft incident since Binance was founded in 2017.

On March 7, 2018, Binance was attacked by hackers. The hackers sold a large number of other tokens of Binance users and bought Bitcoin to buy an unknown small currency, causing the currency to rise sharply in a short period of time. The hackers did not steal any assets from Binance, but through a series of operations, they caused a huge panic in the market and profited from it.

In July 2018, Binance was once again reported to have been hacked, with tens of thousands of bitcoins being transferred away. He Yi, the co-founder of Binance, later denied the allegations.

As of press time, affected by the news of the Binance hack, the price of BTC has rapidly dropped from $6,000 to around $5,700. The price of BNB has dropped from $22.45 to around $19.90.

(BTC price, data from QKL123)

(BNB price, data from QKL123)