- BtcTurk has faced a cyber attack affecting cryptocurrencies stored in the platform’s hot wallets.
- Binance CEO Richard Teng announces that the exchange has frozen $5.3 million in stolen funds.
- ZachXBT points out a possible connection between the BtcTurk exploit and the $54 million Avalanche transfer.
Binance CEO Richard Teng announced the crypto exchange’s alliance with the largest Turkish crypto exchange, BtcTurk, to investigate the latter’s recent exploit. Consequently, Binance froze over $5.3 million in stolen funds.
Binance is assisting BtcTurk with investigations and have frozen over $5.3M in stolen funds so far.Our investigations & security teams work around the clock as part of our proactive efforts to protect the ecosystem from bad actors. We will provide further updates as relevant. https://t.co/8j6uMgOPm6
— Richard Teng (@_RichardTeng) June 22, 2024
On June 22, BtcTurk revealed that the platform faced a cyber-attack that affected cryptocurrencies stored in hot wallets. However, the company assured that the majority of assets stored in the cold wallets remain safe and unaffected by the attack.
In a subsequent X post, crypto sleuth ZachXB…
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