The key issue in Blockchain and Cryptocurrency
industry is Cyber security. In recent years, we have seen many security breach in this sector. Now the last victim is Bancor.
Bancor is a Israeli based Cryptocurrency start-up. Bancor operate on bankor.network domain which offers users to convert their Ethereum base tokens. Users can exchange their tokens with other tokens like an exchange.
Recently, Cryptocurrency wallet of the this conversion platform has been compromised. $1 million worth of the lesser-known token and $12.5 million worth of ethereum has been stolen.
Now there site is under maintenance. Your can see the message on their site:
”Bancor does not hold your assets. Your wallet and your funds are always safe, secure and under your possession on the blockchain at all times.”
Recent tweet from Bancor:
Security is one of the key issue for crypto exchange which affect the market deeply. Japanese crypto exchange Coincheck had lost more than $530 million earlier this year which was the biggest security breach.
Crypto world is expanding rapidly day day. Many startup and individuals are involving with Cryptocurrency now. Security was always been a key issue in crypto world. But whatever happened in last few years, Cryptocurrency bounces back and became more and more stronger.
News Source: https://www.cnbc.com
Image Source: https://pixabay.com/