BNS

BNS (BitBNS) Hack - February 2022

BitBNS Hack (February 2022)

BitBNS was hit by a hacking incident on February 1, 2022 which resulted in loss of $7.5 Million worth of investors. BitBNS is an India-based crypto exchange that got compromised on February 1, 2022, but the incident came to light following ZachXBT, a crypto on-chain detective, uncovered the incident on Wednesday.

The exchange had suspended all operations immediately post the hack and termed it as a "maintenance" exercise. The founder conducted an Ask Me Anything (AMA) Session on Youtube on March 1, representing a gap of 13 months since the hack, and cited law agencies' order as a reason not to reveal the hack publicly.

Sources

• https://www.cryptometer.io/news/indian-exchange-bitbns-faces-accusations-of-hiding-7-5-million-hack/

• https://www.cryptotimes.io/2024/08/22/obscurity-deception-and-unethical-practices-bitbns-is-thy-name/

• https://bitcoinist.com/bitbns-says-authorities-told-it-to-keep/