- Amount Lost: $7,500,000.00
- Funds Returned: $0.00
- Category: CeFi
- Date: 2022-2-1
Quick Summary
BitBNS, an Indian crypto exchange, was hacked for $7.5 million on February 1, 2022, and hid the hack from users until an investigation by crypto sleuth zachxbt uncovered the incident.
Details of the Exploit
According to zachxbt, BitBNS was hacked through a vulnerability in their AWS (Amazon Web Services) cloud storage, which allowed the attacker to access the exchange's private keys and steal funds. BitBNS attempted to cover up the hack by tweeting about "system maintenance in progress" instead of disclosing the breach to users. BitBNS CEO Guarav Dahake later admitted to hiding the hack from customers at the advice of law enforcement. However, some funds were ultimately recovered thanks to cooperation from other exchanges and law enforcement.
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