The largest Brazilian currency exchange Foxbit lost 270 000 $

Foxbit, the largest Brazilian currency exchange was not available for more than 72 hours, it became known from various sources that it was due to an error that allowed users to withdraw funds twice from their Bitcoin account. The company lost about 30 Bitcoin worth about 270 000 US dollars.

As soon as the mistake was noticed, the general director of the company Joao Kanhada and the chief executive officer Luis Augusto Siwon, the exchange immediately launched an emergency regime in order to prevent the withdrawal of funds.

Strong blow on the stock exchange or just zilch?

According to company executives, the data is now being restored, and Foxbit will be available 14 March. In its blog post, the crypto currency the exchange informed its usersthat they were not hacked and all the funds were safe.

The general director and chief operating officer of Foxbit said that some users have already returned their illegally obtained funds, it is not clear how much was returned. Nevertheless, the exchange states that the amount of the crypto currency that was stolen will not affect the further work, since this is a small percentage of what the company has. At the moment, their wallets contain more than 7500BTC.

Author: Andrey, analyst Freedman Club Crypto News

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