Good Morning My Lovely and Beautifull Peoples.
When everything was going fine and we were expecting a Bull run in Crypto market we got another bad news which created the in market and now market starts to dump.
Bancor a decentralised exchange reports a breach to steal $12M worth of ETH, $1M of NPXS and $10M of BNT. In a tweet Bancor stated that it has identified a security breach and will investigate into it.
Hack was done around 00:00UTC. The wallet has withdrawn Ethereum, NPXS and BNT tokens. However Bancor protocol has a mechanism which frozen the BNT tokens, they also stated it was built for extreme situations.
But $12M worth of ETH and $1M worth of NPXS are still compromised and you can also see the hackers wallet photo above showing a single transaction of 25,533ETH. Bancor Exchange is currently down for maintenance and they also confirmed that users wallet is not compromised.
But why Market starts to Bleed?
It creates a panic among traders and loss of trust toward crypto market and you all know that at this time how much trust does crypto market needs. Not only this fear but also it's the best time for whales to manipulate the market so they start exiting from market as soon as they hear the news althought they will came back all of their money after crypto starts to stable. So guys just don't panic it is just a small barrier towards your success. Keep Calm stay Healthy