Richard Teng: Binance joins investigation into attack on Turkish crypto exchange BtcTurk

Richard Teng announced that Binance security experts have already joined the investigation into the BtcTurk ecosystem hack and have frozen some of the funds previously withdrawn by the hackers:

Richard Teng (@_RichardTeng) June 22, 2024

Binance is assisting BtcTurk with investigations and has frozen over $5.3M in stolen funds so far. Our investigations and security teams work around the clock as part of our proactive efforts to protect the ecosystem from bad actors. We will provide further updates as relevant.

A joint team of experts is investigating the causes of the incident around the clock and will report the results of the work as needed, assured the CEO of Binance.

In the course of the hacker attack on BtcTurk, the assets of users placed in the balance of hot crypto wallets were primarily affected. The amount of damage may exceed $54 million.

Binance experts have practical experience investigating such incidents. Several years ago, Binance faced a similar breach of its own hot wallets. At that time, hackers were able to obtain some user data and withdraw 7,000 BTC.