Hackers Withdraw 7,000 Bitcoins in Binance Crypto Exchange Security Breach


Binance, one of the largest cryptocurrency exchanges by daily trade volume, has experienced a major security breach on May 7, according to a statement shared with Cointelegraph on May 7.

Per Binance, hackers employed a variety of tactics including phishing and viruses to obtain a large number of 2FA codes and API keys in addition to other information.

According to the exchange, there was one affected transaction, wherein hackers were able to withdraw 7,000 bitcoins (BTC) worth $40,705,000 at press time.

This story is developing and will updated in the future.