12 hours after the stolen 7000 bitcoin was stolen

Event combing

On the morning of May 8, Chanan released a security update after monitoring a large-scale hacking attack on the hot wallet, indicating that the hacker had stolen 7,000 bitcoins, or about $41 million, in this attack. Subsequently, in the announcement, the company announced that it would suspend the recharge and withdrawal of services this week to further expand the situation. It is worth noting that this is the first time that Chanan has publicly acknowledged the incident of stealing money. In view of the influence of the currency in the industry and the explosive characteristics of the event, the currency market and the currency circle have a more obvious stress response. Bitcoin has fallen from the impact of 6,000 US dollars to less than 5,800 US dollars. There has also been a slight decline, but compared to the movement of the currency circle, the collapse of the currency market may not even be awkward –

In China, He Yi, one of the founders of the currency security, quickly conducted a crisis public relations on social media, saying that he would deposit the equivalent of 7,000 bitcoin dollars in the name of the individual (if CZ agrees) to increase the platform currency (BNB). Bitcoin and the TRX and BTT under the wave field, followed by Sun Yuchen, the founder of the wave field, he supported his support for the currency security with the same action statement. It is not difficult to see that there is a deeper cooperation between the currency security and the wave field than previously speculated.

Peer reaction

The time goes back two months ago. In addition to submitting an ETF request to the US Securities and Exchange Commission (SEC), Bitwise also launched a full-line discussion of the transaction's false transaction volume in a report. According to the report, among the 81 exchanges under investigation, the proportion of false transactions reached an alarming 95%, and the top 100 cryptocurrency exchanges of CMC were the hardest hit areas. What is quite eye-catching is the exchanges whose results are “unfalsted” – according to Zhao Changpeng, if the statistics are based on real trading volume, the currency is the exchange with the largest volume of currency.

After the 7000 Bitcoin was stolen, the official accounts of major exchanges showed different priorities:

Account Security: 30 minutes after the announcement of the currency security announcement, the Kraken Exchange issued a statement that “according to the ICORating report, only 22% of the exchanges have adequate measures to prevent theft of user accounts, and Kraken ranks first in the report. ", then attached the link address of the official website security information introduction page.

A few hours later, OKEx CEO Xu Mingxing also expressed the importance of OK for user account security:

"We will not stop the attack on illegal activities and will continue to upgrade OK's security system. But in order to achieve this goal, we need the support of the currency. This is why we require users to complete real-name certification and introduce new security measures."

Providing assistance : Weng Global CEO Weng Xiaoqi took the initiative to help the company monitor the inflow of stolen Bitcoin on the Firecoin platform. He said: "As an exchange, we attach great importance to security and protect users. Funding is our highest mission. If the stolen Bitcoin is detected to flow into the coin, we will notify the Currency Exchange. Through cooperation, we believe we can promote the sustainable development of the currency."

In addition, from the Twitter posted by Zhao Changpeng, other exchanges, including Coinbase, also provided corresponding support.

The focus is different : However, under the currency security incident, there are still exchanges that focus on a completely different field – IEO. After several rounds of fake IEO white papers, Bitfinex finally released the LEO token IEO project white paper on the official website. However, some netizens found that there were many doubts after carefully reading the relevant terms. There is no description except after the tweeting of CTO Paolo Ardoino's "LEO" short tweet. Only Zhao Dong, the founder of DGroup in China, kept following this on Weibo.

The tide was transmitted to the afternoon and the wind direction changed . At noon today, Zhao Changpeng revealed that he was interested in rolling back the transaction to reduce the loss when he was doing AMA. Although he vetoed the idea shortly after, he still exploded on the social platform. In theory, transactions on the bitcoin chain are irreversible unless there are enough miners to decide to fork. The CZ statement has angered some bitcoin long-term value believers, saying that they do not understand the operating mechanism of Bitcoin. The CEO of Blockstream said:

"Bitcoin restructuring (ie rollback) won't happen, and I don't think Bitcoin's entire industry, that is, all miners and developers, will consider this possibility. Think about the $473 million robbery in 2014, 2016 Bitfinex's $72 million hacking incident, and this time the 2019 currency was $400 million, and so on."

However, what impact does this have on the average user of the currency security?

According to Blockchain.com, the transfer is still in the 44 addresses that were previously transferred, and 17 of them received more than 100 BTCs.

In the announcement, the company announced that it will use the “SAFU” fund to bear all the losses of the incident. Moreover, since the currency security belongs to the centralized exchange, the wallet of the exchange controls the movement of funds, so ordinary users do not have to worry too much.

However, the storm of this incident will not be extinguished, and it may even be re-ignited at some point in the future – just look at where the currency is going.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


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