Hackers steal $23.5M in cryptocurrency from ‘decentralized’ crypto exchange Bancor

Attackers managed to steal $23.5 million of three different cryptocurrencies from the decentralized exchange Bancor. Although Bancor was able to mitigate the damages down to $13.5 million, the hacker or hackers are still looking at a future in which they could be millionaires.

The hack, which was detected on Monday, kicked off numerous debates such as whether Bancor is actually a decentralized service. Bancor dubbed itself as a “decentralized liquidity network” and its protocol (pdf) uses smart token contracts.

Read more about the hack in which attackers used a compromised wallet to steal $12.5 million of ether, $1 million of Pundi X, and $10 million of Bancor Network Tokens (BNT) on CSO.