Binance was founded in 2017 by Changpeng Zhao, who is also its current CEO. The cryptocurrency exchange is one of the most popular in the world with over 10 million users.
It allows trading in over 150 cryptocurrencies and provides a platform for Initial Coin Offerings (ICOs). Binance is headquartered in Malta but also has offices in Hong Kong, Japan, and Taiwan.
In March of 2019, Binance suffered a major hack which resulted in the loss of over 7,000 BTC (worth over $40 million at the time). The hackers used a variety of methods to obtain the funds, including phishing and viruses.
Despite the hack, Binance remained operational and even compensated users who lost funds with its own token, Binance Coin (BNB).
In the aftermath of the hack, Binance implemented a number of security measures to prevent future incidents. These included 2-factor authentication for all accounts, enhanced KYC procedures, and the creation of a “Security Risk Management” team.
NOTE: WARNING: Binance.com may have been hacked or compromised in some way and is currently offline. It is highly advised that you take all necessary precautions to protect your account information and cryptocurrency funds. Do not enter any personal or financial information on the site, and do not attempt to access it until the issue has been resolved.
Despite these measures, Binance has continued to be Targeted by hackers. In August of 2019, hackers were able to obtain personal data on over 30,000 users from Binance’s customer support portal.
The data included names, email addresses, and contact numbers. Binance was quick to respond and issued a statement saying that no sensitive data such as passwords or financial information was compromised.
Despite these setbacks, Binance remains one of the most popular cryptocurrency exchanges in the world. In November of 2019, it announced that it had surpassed 10 million users.
The exchange continues to offer a variety of trading options and remains at the forefront of innovation in the space.
What happened to Binance com is it got hacked in March 2019 but remained operational and even compensated users who lost funds with its own token, Binance Coin (BNB). Despite these measures, Binance has continued to be Targeted by hackers.
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Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is in the midst of a major expansion. The Malta-based company announced today that it has acquired Trust Wallet, a popular mobile wallet app with support for Ethereum and over 20,000 different tokens. This is just the latest in a string of acquisitions and partnerships that Binance has made over the past year as it looks to solidify its position as the leading cryptocurrency exchange.
Eng was a token created by the team at Enigma, a startup working on privacy solutions for decentralized applications. The token sale for Eng took place on the Binance Launchpad, and raised over $4 million. However, just a few months after the token sale, the Enigma team announced that they would be delisting Eng from Binance, and moving it to a new exchange.
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