Yesterday, hackers broke into the wallets on blockchain startup Bancor and $ 23 million in broadcast, the token BNT and Pundi X. during the investigation of the incident, the platform stopped working and froze the Bank accounts of users.
Interviewed analysts believe that the attack on startup will not affect the stock market. However, she suggests that the smart contracts are still insufficiently reliable.
The Theft is of great importance for the industry, not because of the amount of the stolen funds, but because of the time period in which it is made. So says the PR-Director of Finance Tugush Blockchain Timothy Fortunatov.
The Past six months was a difficult period for the whole of the crypto community, and a series of burglaries is clearly not conducive to stabilizing the market. This news interfere with the market development, because they scare people. Difficult to decide on the purchase of new assets when almost every week I read about an attack on a particular exchange.
Fortunatov waiting for reducing the cost of Ethereum for hacking. However, while fell only its own token Bancor BNT — its rate per day decreased by 15 percent.
Director investment international network of professional investors in the digital assets CryptoLife Mansur Guseynov expressed a similar point of view.
This is not a very big event for the market and quotes much impact it has had. However, for the Bancor is an unpleasant event, because it confirms once again that smart contracts, while unreliable and even the largest, leading market participants, such as Parity and Bancor, are not immune from such incidents.
According to the Director of special projects at Group-IB Ruslan Yusufov, for the first two months of 2018 hackers stole 1.36 billion dollars in the cryptocurrency.
And the number of incidents continues to rise. Many large players of the market not being taken seriously enough the risks of information security. For example, the breaking of the Japanese cryptocurrency exchange Coincheck has occurred as a result of the negligent attitude of developers to the issue storage scriptaction: system to store all tools were used "hot" wallet is "cold".
In Addition, Yusufov said.
If we talk about the long term, the increase in the number of hacker attacks will depend on the number of trading platforms, and the attention will be paid to security, so it is necessary to improve the whole security system to work and every risk, in order to maintain a stable position in the market.
Co-Founder and managing partner of The Tokenbox Mr Serkis summed up.
Unfortunately, the break — ins are still common, due to the relative youth of the technology and related security. You need to understand who and how stole funds from Bancor. There were instances when hackers were «white» we all remember the hacking of purse Parity and the funds were returned to the owners.
The cause of the hacking of exchanges, in too rapid development of the market. Companies simply do not have time to build enough safety systems to protect the user's money. This situation adversely affects the image of the entire industry — potential investors are afraid to invest in vulnerable areas. And while this problem is not solved, the market will not take off.
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