$40 Million in Cryptocurrency Stolen
The crypto version of The Town.
May 7, 2019
Binance, the world's largest cryptocurrency exchange, reported that more than $40 million in cryptocurrency was stolen from its platform. The company says the hack was a coordinated effort between multiple people, and they were able to bypass the security measures put in place to prevent precisely this.
In other words, some newly-rich geeks with a lot of time on their hands caught Binance slippin' like a banana on Mario Kart.
Over 7,000 Bitcoins were stolen during the hack. Luckily, Binance has an emergency insurance fund for times like this. Users of the platform don't have to worry about this incident taking away from their "investments" (I use that term very loosely).