On July 10, 2018, hackers broke into Bancor's blockchain startup wallets and stole $ 23 million ETH, BNT and Pundi X tokens. Probably, the hacker thought that the hype was already asleep and decided to use the money. A few days ago, 25.5 thousand ETH were sent to the service like a mixer.
The amount was first broken into small parts, and then re-grouped. It is not yet clear whether cryptocurrencies have been forwarded to the exchange or whether they can be monitored further. The only obvious thing is that the attacker is trying to confuse everyone.
The exchange is not very actively sharing information about the incident. As representatives of Bancor explained at that moment, “someone hacked into the wallet that was used to update smart contracts”. Apparently, the private key was stolen from the “decentralized” exchange. How this happened is still unknown.
In addition to 25 thousand ETH, 3.2 million Bancor BNT tokens and 230 million Pundi X NPXS tokens were also stolen. Despite the hopes of a hacker or a group of intruders, the stolen funds continue to be closely monitored. It is not yet known whether he will ever be able to spend them.
Immediately after the hacking, the price of the Bancor BNT token per day decreased by 15 percent. However, in general, the effect on cryptobies was insignificant. At that time, Mansur Huseynov, director for investments of the international network CryptoLife, commented on the situation, this is not a very high-profile event for the market, so it did not have any particular effect on the quotes.
However, the situation for Bancor itself is unpleasant. Such hacks once again confirm the unreliability of smart contracts that threaten even the largest market participants like Parity and Bancor.
