according topreviously reportedaccording to

previously reported

, the Bancor exchange was hacked, and 24,984 Ethereum (about $12 million), as well as 300,000 Pundi X (worth about $1 million) and BNT worth about $10 million were stolen.

The Bancor team stated that the hack occurred at 00:00 UTC on July 9, when a wallet was attacked while upgrading some smart contracts, and then the wallet withdrew Ethereum and ERC-20 tokens NPXS and BNT.

After investigation, the Bancor team has identified the hacker's address, and used the built-in mechanism of the Bancor protocol to freeze the stolen BNT, effectively preventing the hacker from taking BNT away, but ETH and other stolen currencies were lost. In response, Bancor has teamed up with dozens of cryptocurrency exchanges to jointly track these stolen funds and try to prevent hackers from liquidating and cashing out. And, they stated on their official Twitter account: No user wallets were compromised.

However, compared to the question of whether users’ funds are safe, in the comment section of Bancor’s official Twitter, people are more concerned about the fact that Bancor can freeze BNT. Is it contrary to the fact that Bancor’s platform has always advertised itself as a decentralized platform?

There are currently two types of decentralized exchanges on the market. One is a decentralized exchange such as DDEX that does not deposit coins. It does not hold user assets, and the funds are always in the user's wallet. At the same time, there is no recharge and withdrawal function. The other is exchanges that can deposit coins, such as Bancor and Kyber. These exchanges reserve many currencies, and they act as acceptors to help users trade.

People familiar with the matter believe that Bancor is a pseudo-decentralized exchange and a real OTC platform.

according toLitecoin founder Li Qiwei also has a similar view. He said on Twitter that in response to the theft of Bancor, if an exchange can freeze user funds, it is not a decentralized exchange.according to

media reports

The Bancor team claims that Bancor will only use the freezing mechanism in special extreme cases. This mechanism is to prevent the exchange from effectively recovering the system when a security breach breaks out, and to prevent illegal hackers from transferring stolen encrypted tokens.

(I am Yannan, a reporter from Odaily. I am exploring the real blockchain. Please add WeChat nangua421262 for breaking news and communicating. Please note your name, unit, position and reason.)