#CryptoCorner: Binance Hacked for 7,000 BTC, Bitstamp Names Head of U.S. Operations, Bitfinex Issues White Paper for $1 Billion Exchange Offering

Point Roberts, WA and Delta, BC – May 8, 2019 (Investorideas.com Newswire) Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market.

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#CryptoCorner: Binance Hacked for 7,000 BTC, Bitstamp Names Head of U.S. Operations, Bitfinex Issues White Paper for $1 Billion Exchange Offering

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Crypto Corner

Crypto exchange giant Binance has been hacked for 7,000 bitcoins (BTC), worth $40.7 million, according to an official statement from the company’s website. The withdrawal was part of a broader security breach wherein the hackers took user API keys, 2FA codes and other info. The hack only affected the exchange’s hot wallet, which holds just two percent of the company’s Bitcoin holdings. The statement also says that the stolen funds will be refunded in full. The exchange will halt withdrawals following the incident:

The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed. Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that.

Finance Magnates reports that Luxembourg-based crypto exchange Bitstamp has amped up its expansion into the American market with the appointment of former head of trading at…

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