Bancor hack and Changelly; CEO and Co-Founder of Changelly speaks out

Konstantin Gladych, the CEO of Changelly, one of the leading cryptocurrency exchanges in the cryptoverse spoke about the Bancor hack which took place in earlier in the morning.

Bancor, the decentralized cryptocurrency exchange platform witnessed a security breach at 00:00 UTC. The hackers stole cryptocurrencies worth $23.5 million. This included $12.5 million worth ETH, $1 million worth NPXS and $10 million worth BNT. Bancor was able to successfully freeze all the stolen BNT on their platform and thus reducing the loss incurred.

The decentralized exchange platform released an official announcement regarding the same on their social media handle. In the announcement, Bancor stated that they are working with various exchange platforms in order make the stolen tokens hard to liquidate.

During an exclusive interview with AMBCrypto, Konstantin Gladych, the Co-Founder of Changelly said:

“The security breach was sudden. As we understand, one the Bancor Foundation wallet was compromised. Part of the stolen tokens was exchanged in small transactions via Changelly anonymously. The Foundation has frozen BNT tokens in Changelly’s contract on the network.

He further adds:

“Currently, we are in touch with other exchanges in order to prevent suspicious transactions in the future. As we know, no Bancors users funds were stolen.”

The hack created a huge buzz in the market and it drew the attention of famous crypto-influencers to founders in the crypto-verse such as Charlie Lee, Emin Gun Sirer, and Samson Mow. This also led to a huge debate on whether decentralized exchanges are a boon or a bane.

Neville Carpente, a Twitterati says:

“Was wondering how a decentralizes exchange could lose funds, are then not with the invidual? on my ledger for instance?”

Great Mogul, another Twitterati says:

“They had more than enough cash to prevent something like this….. spend on security not presonal expenses.”

Samson Mow, CSO at Blockstream says:

“Now that it’s been clearly established that Bancor is a centralized exchange, the big question is, ‘are they burning in hell?’”

Generation Kryp2, a Twitterati says:

“The network is decentalized, the tokens may not be, but that is besides the point. CT is so quick to judge tokens/network on how decentralized they are. And ridicule anyone of them thats not. But when you lose your life savings you’ll wish for centralized for sure.”

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