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Hackers Steal $40.7 Million in Bitcoin From Crypto Exchange Binance

May 7, 2019👎Bearish

Hackers stole more than 7,000 bitcoin from crypto exchange Binance, the world's largest by volume, the startup reported Tuesday.

As a result, they were able to withdraw roughly $41 million in bitcoin from the exchange, according to a transaction published in the security notice.

The exchange will use its Secure Asset Fund for Users (SAFU fund) to cover the loss, which won't impact users, according to the notice.

The disclosure comes hours after Zhao tweeted that the exchange was undertaking "some unscheduled server maintenance", writing that funds are #safu. After the disclosure announcement, Zhao tweeted that the exchange would "provide a more detailed update shortly."

The exchange may not yet have identified all impacted accounts, he said.

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