Hackers stole $23.5 million from 'decentralized' crypto exchange; Bancor recoups $10M

CSO Online

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Attackers managed to steal $23.5 million of three different cryptocurrencies from the decentralized exchange Bancor. Although Bancor was able to mitigate the damages down to $13.5 million, the hacker or hackers are still looking at a future in which they could be millionaires.

The hack, which was detected on Monday, kicked off numerous debates such as whether Bancor is actually a decentralized service. Bancor dubbed itself as a “decentralized liquidity network” and its protocol (pdf) uses smart token contracts.

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