October 25, 2020

About $ 500,000 stolen as a result of hacking VinDAX cryptocurrency exchange

On Tuesday, a little-known Vietnamese cryptocurrency exchange VinDAX was hacked, resulting in which about $ 500,000 was stolen from the site.

VinDAX Telegram Channel Administration Confirmsthe reliability of this information, but did not begin to disclose the details of the incident, saying only that "the consequences of the attack were eliminated and the situation is under control." However, a source familiar with the situation told The Block, hackers withdrew assets from 23 cryptocurrencies in the amount of about $ 500,000 from the exchange.

VinDAX exchange is mainly engaged in conductingtoken sales of small cryptocurrency projects. According to The Block, the exchange’s management turned to projects whose tokens were stolen with a request “to borrow from 30% to 100% of tokens from the amount that was stolen in order to process user requests for withdrawal of funds."

This is the seventh hack of the cryptocurrency exchange withbeginning of the current year. The total amount of funds stolen from cryptocurrency platforms in 2019 exceeded $ 100 million, and over the entire life of the cryptocurrency industry it reached $ 1.4 billion.

In July, a Japanese attack was hackedBitpoint cryptocurrency exchange, and in June, the Bitrue site in Singapore became a victim of hacking. Since the beginning of the year, such platforms as Binance, Bithumb, DragonEX and Cryptopia have also added to the list of affected exchanges.

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