Bancor Was Hacked


Decentralized Exchange platform Bancor has moved quickly to reassure users that no customer wallets were compromised in the theft of $23.5 million in coins last night.

In a statement, Bancor revealed that a hacker had compromised a wallet being used to upgrade some smart contracts. This wallet was then used to extract Ether from the smart contract to the value of $12.5 million.

The same wallet also stole $1 million of NPXS and a further $10 million in BNT, the native token of the Bancor exchange. However, Bancor was able to deploy an encoded mechanism into BNT to freeze the currency, leaving the thief with a reduced haul.

Bancor announced that it is working with other exchanges in an attempt to prevent the hacker from liquidating his assets. It advised concerned users to tune in to its Telegram page for further updates.