{"id":23363,"date":"2024-06-23T10:00:06","date_gmt":"2024-06-23T07:00:06","guid":{"rendered":"https:\/\/coinengineer.io\/?p=23363"},"modified":"2024-06-23T09:28:27","modified_gmt":"2024-06-23T06:28:27","slug":"binance-aids-btcturk-in-stolen-funds","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/","title":{"rendered":"Binance Aids BtcTurk in Recovering Stolen Funds After Cyber Attack"},"content":{"rendered":"<p>Investigating a recent cyber incident on Turkish cryptocurrency exchange <strong>BtcTurk<\/strong> is aggressively underlined by <strong>Binance<\/strong>. Binance CEO Richard Teng reports that over $5 million in pilfers have already been blocked. Teng said in a June 22 X post, &#8220;Binance is helping BtcTurk with investigations and have frozen over $5.3M in stolen funds so far.&#8221;<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/#Affect_on_Hot_wallets\" title=\"Affect on Hot wallets\">Affect on Hot wallets<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/#Recent_Crypto_Exchange_Security_Events\" title=\"Recent Crypto Exchange Security Events\">Recent Crypto Exchange Security Events<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Affect_on_Hot_wallets\"><\/span>Affect on Hot wallets<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>With more than 5 million users, <strong>BtcTurk<\/strong> verified that the assault mostly targeted software-based crypto wallets linked to the internet, hot wallets. Though they enable regular transactions, hot wallets are more vulnerable to hacking than cold storage. &#8220;Only a portion of the balances of 10 cryptocurrencies in our hot wallets were affected by this cyber attack; most of assets held in our cold wallets remain safe,&#8221; BtcTurk said on June 22.<\/p>\n<p><a href=\"https:\/\/coinengineer.net\/blog\/bitcoin-mining-faces-challenges-but-remains-stable\/\"><em><span style=\"font-weight: 400\">This Might Interest You: Bitcoin Mining Faces Challenges but Remains Stable<br \/>\n<\/span><\/em><\/a><\/p>\n<p>Teng told his 299,800 X followers that security personnel and investigations by Binance are assiduously seeking further data. &#8220;As part of our proactive efforts to keep the ecosystem free from criminal actors, our investigations and security teams operate nonstop. As pertinent, we will provide further updates, Teng said. Blockchain investigator ZackXBT commended Binance for its actions, pointing out, &#8220;Binance gets crucified by the media when in reality their security team generally does more for victims + goes out of their way to assist in incident response.&#8221;<\/p>\n<p><strong>BtcTurk CEO \u00d6zg\u00fcr G\u00fcneri<\/strong> has not yet said anything publicly on the topic.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Recent_Crypto_Exchange_Security_Events\"><\/span>Recent Crypto Exchange Security Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This event followed a previous hack on June 4, wherein Lykke, a crypto exchange located in Switzerland, stopped withdrawals following a security compromise. &#8220;@lykke CTX got exploited and lost $19.5.5 million worth of crypto assets but the team is still trying to hide this fact,&#8221; blockchain security expert SomaXBT said accusing Lykke of trying to cover the vulnerability.<\/p>\n<p><span style=\"font-weight: 400\"><a href=\"https:\/\/t.me\/coinengineernews\">Click here to get the latest news from Coin Engineer!<\/a>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investigating a recent cyber incident on Turkish cryptocurrency exchange BtcTurk is aggressively underlined by Binance. Binance CEO Richard Teng reports that over $5 million in pilfers have already been blocked. Teng said in a June 22 X post, &#8220;Binance is helping BtcTurk with investigations and have frozen over $5.3M in stolen funds so far.&#8221; Affect<\/p>\n","protected":false},"author":6,"featured_media":11625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,657,1,2],"tags":[22,6961,5716,1201],"class_list":["post-23363","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-en","category-genel","category-news","tag-binance","tag-btcturk","tag-cyber-attack","tag-hack"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance Aids BtcTurk in Recovering Stolen Funds After Cyber Attack - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Aids BtcTurk in Recovering Stolen Funds After Cyber Attack - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Investigating a recent cyber incident on Turkish cryptocurrency exchange BtcTurk is aggressively underlined by Binance. Binance CEO Richard Teng reports that over $5 million in pilfers have already been blocked. Teng said in a June 22 X post, &#8220;Binance is helping BtcTurk with investigations and have frozen over $5.3M in stolen funds so far.&#8221; Affect\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-23T07:00:06+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-23T06:28:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/02\/PlayDapp-Hack.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1500\" \/>\n\t<meta property=\"og:image:height\" content=\"964\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/binance-aids-btcturk-in-stolen-funds\/\",\"name\":\"Binance Aids BtcTurk in Recovering Stolen Funds After Cyber Attack - 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