Bros!! We haven’t even finished digesting the Binance drama, and now another exchange has been drained!!!
Brazilian exchange veteran Mercado Bitcoin ran into trouble on Monday: the company said more than $46 million in crypto was transferred out of its wallets. Deposits and withdrawals were paused for a few hours～ Security firms say this wasn’t a smart contract exploit; the funds were moved through regular transfers. In plain English, the keys or permissions were compromised. Tether and Circle have frozen around $6.2 million, while another roughly $20 million was sent to new wallets. The associated addresses also hold 106 BTC (Cointelegraph/Odaily, November 3). The company says customers didn’t lose any funds and no data was leaked.
And things got even more tense in South Korea!! The Financial Services Commission urgently summoned platforms like Upbit and Bithumb for security checks. Under current rules, at least 80% has to be held in cold wallets～
Seriously, two exchanges drained in one week, and neither incident involved fancy high-tech hacks. Both came down to “internal permissions + hot wallets”!!! Big exchanges can cover the losses themselves, but smaller ones might not be able to take the hit. Bros, only leave on exchanges what you need for trading. Move your long-term holdings to your own wallet and you’re set～
CoinGecko has Bitcoin at around $76,800 and ETH at around $2,250 right now. Both are down a little over 2% in 24 hours, and the panic hasn’t passed yet haha.
Would you still dare to keep most of your crypto on an exchange?
$BTC
#交易所安全 #Crypto
Brazilian exchange veteran Mercado Bitcoin ran into trouble on Monday: the company said more than $46 million in crypto was transferred out of its wallets. Deposits and withdrawals were paused for a few hours～ Security firms say this wasn’t a smart contract exploit; the funds were moved through regular transfers. In plain English, the keys or permissions were compromised. Tether and Circle have frozen around $6.2 million, while another roughly $20 million was sent to new wallets. The associated addresses also hold 106 BTC (Cointelegraph/Odaily, November 3). The company says customers didn’t lose any funds and no data was leaked.
And things got even more tense in South Korea!! The Financial Services Commission urgently summoned platforms like Upbit and Bithumb for security checks. Under current rules, at least 80% has to be held in cold wallets～
Seriously, two exchanges drained in one week, and neither incident involved fancy high-tech hacks. Both came down to “internal permissions + hot wallets”!!! Big exchanges can cover the losses themselves, but smaller ones might not be able to take the hit. Bros, only leave on exchanges what you need for trading. Move your long-term holdings to your own wallet and you’re set～
CoinGecko has Bitcoin at around $76,800 and ETH at around $2,250 right now. Both are down a little over 2% in 24 hours, and the panic hasn’t passed yet haha.
Would you still dare to keep most of your crypto on an exchange?
$BTC
#交易所安全 #Crypto