• Bitcoin

    Binance restarts following $40 million hack

    The exchange announced it will be giving away $1.35 million of its Binance Coin exchange tokens; hacked Cryptopia exchange to liquidate

    Hacked cryptocurrency exchange Binance has restarted trading and withdrawals after a security update this morning. The exchange lost 7,070 bitcoins on May 7, when a hacker used phishing to beat its two-factor identification procedures. At the time, the loss was valued at about $40 million. Given the price jump in the past week from about $6,000 to nearly $8,000, the theft was worth almost $57 million at press time, according to CoinMarketCap.