Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended trading on its platform. The move comes after a “large scale security breach” that resulted in the loss of 7,000 BTC, worth around $40 million at current prices.
In a blog post, Binance said it discovered the breach on May 7 and that hackers had used a variety of techniques, including phishing, viruses and other attacks, to gain access to user accounts. The hackers then used a combination of these methods to withdraw 7,000 BTC from the exchange.
Binance said it has contacted law enforcement and is working with “industry-leading security experts” to investigate the breach. The exchange has also implemented “mandatory security measures” to protect user accounts and prevent future breaches.
Binance is one of the most popular cryptocurrency exchanges in the world with a daily trading volume of $1.7 billion.
NOTE: WARNING: Binance has temporarily suspended trading for some of its users. This could be for a number of reasons, including suspicious activity or technical maintenance. If you see that your trading is suspended, please contact Binance customer support immediately to ensure the safety of your funds.
The exchange has been growing rapidly since it launched in 2017 and has attracted millions of users from all over the world.
The suspension of trading on Binance comes as a shock to the cryptocurrency community and is likely to cause major disruptions in the market. Binance is one of the largest exchanges in the world and its suspension will likely lead to a decrease in trading activity and prices across the market.
The loss of 7,000 BTC is also a major blow to Binance and its reputation as a safe and secure platform for users. The hack is likely to cause many users to lose faith in the exchange and may lead to a mass exodus of users to other platforms.
Binance says it is working hard to secure user accounts and prevent future breaches. However, the damage caused by this hack will be difficult to repair and may have lasting effects on the exchange.
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Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has suspended bank transfers. The move comes amid increased scrutiny from regulators around the world. The exchange announced the suspension on its blog, saying that it had “received notice from our banks” that they were “unable to process Binance-bound wire transfers” due to “regulatory compliance issues.”
Binance said it is working with other banks to resume wire transfers, and that it is “actively exploring” other options to provide its users with “sufficient deposit and withdrawal options.”
The suspension of bank transfers is the latest in a series of regulatory hurdles for Binance.
Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended withdrawals of cryptocurrencies. The move comes after the exchange experienced a “large scale security breach” in which hackers stole 7,000 bitcoin (worth $40 million at the time). In a statement, Binance said it had discovered the hack on Tuesday and that the hackers had used a variety of techniques, including phishing, viruses and other attacks.
Binance, the world’s largest cryptocurrency exchange by trading volume, has suspended withdrawals amid “irregular” Bitcoin (BTC) transactions. The Malta-based company announced the move in a blog post on Feb. 8, saying it had “identified irregular trades” and was investigating the matter.
“To protect user funds, we have temporarily suspended withdrawals,” the company said. Binance did not elaborate on what it considered to be “irregular” trades, but said it would provide updates “as soon as possible.”
The move comes just days after Binance suffered a major hack that saw 7,000 BTC (worth around $40 million at the time) stolen from the exchange.
If you are a Binance user, you may have noticed that your account has been banned. This is because Binance has recently implemented a new policy that bans accounts that are inactive for more than two years. While this may seem like a harsh policy, it is actually in line with other exchanges who have similar policies.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is getting banned in China. The reason for the ban is still unknown, but it comes as the country’s central bank is cracking down on the cryptocurrency industry. The news of the ban was first reported by Bloomberg, who cited sources close to the matter.
If you’ve been trying to withdrawal from Binance and it says your withdrawal is “Suspended”, don’t worry, you’re not alone. Many users have been reporting the same issue. The good news is that it looks like Binance is aware of the problem and is working on a fix.
