Binance joined the investigation into the attack on the Turkish crypto exchange BtcTurk

“Binance is assisting BtcTurk with its investigations into the hack and has frozen over $5.3 million in stolen funds to date,” Teng wrote.

A joint team of experts is investigating the causes of the incident around the clock and will report the results of the work as necessary, the Binance CEO assured.

During the hacker attack on BtcTurk, the assets of users placed on the balance of hot crypto wallets were primarily affected. The amount of damage caused could exceed $54 million. Binance specialists have practical experience in investigating such incidents. A few years ago, the Binance exchange experienced a similar hack of its own hot wallets. Then the hackers were able to obtain the data of some users and withdraw 7,000 BTC.