Topic: [11-07-2018] Bancor Struggles to Recover Lost Tokens - page 2. (Read 220 times)
It's really so sad how a whole week would gone by without hearing a hack news in the crypto space, this really discourages new people and I wish there is a way to put a stop to this, hackers are now focus more on cryptos hacking and they keep targeting different exchanges, I just hope soon they will find a way to tighten all the loop holes in cryptos to make it even more secured.
It is good to know that Bancor is trying their best to recover stolen coins. Although Bancor coins are frozen, but how about the other coins such as ETH and etc? I wonder whether Bancor will pay the stolen coins back to owners.
It's quite obvious that Bancor won't be able to do much now since the ETH and PundiX have been transferred to other wallets. It is really hard to do anything if once the coins are transferred out of the exchange since the control is lost over them. I had never heard of Bancor until the hack happened.I doubt whether Bancor is even decentralized since it is able to be compromised and able to freeze the coins.
It is good to know that Bancor is trying their best to recover stolen coins. Although Bancor coins are frozen, but how about the other coins such as ETH and etc? I wonder whether Bancor will pay the stolen coins back to owners.
I am having an account on Bancor, and I have struggled so hard to recover my access to it. They actually don't have the option forgot password, and when you lost your access to the telegram that you register with. It is really a battle to recover it. For now I have lost.
Bancor Struggles to Recover Lost Tokens, Urges Market Players to Collaborate Against Hackers
Bancor, a Swiss decentralized cryptocurrency and token generation platform, was hit with an attack earlier this week as the company lost more than $13.5 million worth of cryptocurrency to hackers.
However, Bancor is now struggling to rectify the situation, as they collaborate with other players to track the stolen funds.
One important collaborator could be Changelly, as some of the hacked funds are believed to have been converted into fiat by using the quick exchange provider Changelly.
According to Nate Hindman, head of communications at Bancor, Bancor is coordinating with several entities to produce tools and technology that will help the cryptocurrency community to react quickly and effectively when attacks occur in the future.
“These mechanisms include a real-time blacklist that tracks offending addresses and stolen assets, as well as an emergency fund that compensates projects when thefts occur. There is plenty more to do here and we look forward to working with our peers across the industry to make everyone stronger and smarter as we move forward together.
Read More: https://news.bitzamp.com/bancor-struggles-to-recover-lost-tokens-urges-market-players-to-collaborate-against-hackers/
Bancor, a Swiss decentralized cryptocurrency and token generation platform, was hit with an attack earlier this week as the company lost more than $13.5 million worth of cryptocurrency to hackers.
However, Bancor is now struggling to rectify the situation, as they collaborate with other players to track the stolen funds.
One important collaborator could be Changelly, as some of the hacked funds are believed to have been converted into fiat by using the quick exchange provider Changelly.
According to Nate Hindman, head of communications at Bancor, Bancor is coordinating with several entities to produce tools and technology that will help the cryptocurrency community to react quickly and effectively when attacks occur in the future.
“These mechanisms include a real-time blacklist that tracks offending addresses and stolen assets, as well as an emergency fund that compensates projects when thefts occur. There is plenty more to do here and we look forward to working with our peers across the industry to make everyone stronger and smarter as we move forward together.
Read More: https://news.bitzamp.com/bancor-struggles-to-recover-lost-tokens-urges-market-players-to-collaborate-against-hackers/
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