Richard

ZachXBT

Avalanche

Coin

<ul class="news-points">
 <li>BtcTurk has faced a cyber attack affecting cryptocurrencies stored in the platform’s hot wallets.</li>
 <li>Binance CEO Richard Teng announces that the exchange has frozen $5.3 million in stolen funds.</li>
 <li>ZachXBT points out a possible connection between the BtcTurk exploit and the $54 million Avalanche transfer.</li>
</ul>
<p>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.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Binance is assisting BtcTurk with investigations and have frozen over $5.3M in stolen funds so far. <br><br>Our investigations &amp; 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. <a href="https://t.co/8j6uMgOPm6" target="_blank" rel="noopener noreferrer nofollow">https://t.co/8j6uMgOPm6</a></p>— Richard Teng (@_RichardTeng) <a href="https://twitter.com/_RichardTeng/status/1804525525614096511?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 22, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>On June 22, BtcTurk<a href="https://status.btcturk.com/incidents/w2zxglq0gcm1" target="_blank" rel="noopener noreferrer nofollow"> revealed</a> that the platform faced a <a href="https://coinedition.com/50-cents-x-hacked-in-latest-crypto-pump-and-dump-scheme/" rel="noopener noreferrer nofollow">cyber-attack</a> 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.</p>
<p>In a subsequent X post, crypto sleuth ZachXB…</p>
<p>The post <a href="https://coinedition.com/binance-freezes-5-3m-funds-aligning-with-investigation-on-btcturk-exploit/" rel="noopener noreferrer nofollow">Binance Freezes $5.3M Funds Aligning with Investigation on BtcTurk Exploit</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Binance Freezes $5.3M Funds Aligning with Investigation on BtcTurk Exploit

Coin Edition

Other articles published on Jun 23, 2024

EigenLayer Boosts Ethereum Security

X Series Miners Propel BlockDAG to June 2024’s Leading Crypto, Surpassing Stacks, and Bitcoin Trends

Seeking Huge Rewards? Explore BlockDAG's $2M Giveaway; Toncoin Surpasses Ethereum as ADA Prices S...

MoonBag Set for Explosive 10X Growth – Expert Insight from Jacob Bury

Top 4 Altcoins Ready to Make a Big Impact

Fresh Updates on Ripple vs SEC Case – XRP Price Rally Coming?

Join our free newsletter for daily crypto updates!