Cryptocurrency exchange Binance was victims of what the CEO called a well orchestrated large scale security breach; more than $40mn in bitcoin was stolen, the company said it has the funds to cover the loss even though it will certainly hurt; the company is suspending deposits and withdrawals for a week as they work on upgrades; the price of bitcoin was not affected by the hack as the digital currency has seen a resurgence in 2019; “Hacking risks are part of the business reality for crypto exchanges,” said Henri Arslanian, Global Crypto Leader at PwC, to the Wall Street Journal. “While crypto exchanges are becoming increasingly better prepared, hackers are becoming increasingly sophisticated as well.” Source.
