Binance Helps Btcturk Freeze Stolen Funds Of More Than IDR 87 Billion

Binance helped Btcturk freeze stolen funds of more than IDR 87 billion (Photo; Doc. Cryptory)

JAKARTA - Btcturk, Turkey's largest crypto exchange, recently faced a cyberattack that threatens the security of their hot wallets. In a quick response, Btcturk collaborated with Binance to investigate this incident. Binance CEO, Richard Teng, revealed that more than 5.3 million US Dollars (approximately IDR 87 billion) of stolen funds have been frozen in this endeavor.

Reporting from Bitcoin.com News, on June 22, 2024, the Btcturk team detected cyber attacks that caused unauthorized withdrawals from their platforms. Although only a portion of the balance of 10 crypto assets in the hot wallet was affected, Btcturk took decisive steps by temporarily stopping deposit and withdrawal services. Collaboration with Binance allows further investigations to reveal the perpetrators and ensure the safety of user assets.

Btcturk insists that their financial power far exceeds the number affected by this attack. User assets remain safe, and the security team is working hard to ensure full recovery. Official authorities have also been contacted to ensure appropriate action.

As a precautionary measure, the operations of the affected crypto assets will be gradually restored once the investigation is complete. Btcture is committed to providing safe and reliable services for users.

Binance, as one of the leading crypto exchanges, provides active support in this investigation. CEO Richard Teng stated through social media platform X:

Binance assisted Btcturk in the investigation and has frozen more than 5.3 million US dollars in stolen funds. Our investigative and security team is working relentlessly to protect the ecosystem from threats.

The collaboration between Binance and Btcturk demonstrates the crypto industry's commitment to helping each other in dealing with cyber threats. With security measures that continue to be improved and close cooperation between exchanges, the crypto community can gain more trust in the security and resilience of crypto exchange platforms around the world.