Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been hacked. 7,000 Bitcoin, worth over $40 million at today’s prices, were stolen from the exchange’s hot wallet.
This is not the first time that Binance has been hacked. In July of last year, hackers stole $32 million worth of Bitcoin from the exchange.
At the time, Binance had insurance to cover the loss and was able to reimburse all affected users.
NOTE: WARNING: Funds deposited on Binance may not be safe. Binance does not have insurance and may not be able to reimburse customers for any losses arising from loss of funds, fraud, or other malicious activities. Users should exercise caution and research suitable security measures to protect their funds.
This time, however, it does not appear that Binance has any insurance to cover the loss. This could have major implications for the cryptocurrency industry as a whole.
The hack is a major blow to confidence in cryptocurrency exchanges and could lead to more regulation. It also raises questions about the safety of holding funds on exchanges.
So far, Binance has not released any official statement on the hack. The exchange is currently in “emergency maintenance mode” and is not allowing any withdrawals or deposits.
It is still too early to know the full extent of the damage from this latest hack on Binance. But it is clear that it could have a major impact on the cryptocurrency industry.
6 Related Question Answers Found
Binance, the world’s largest cryptocurrency exchange by trading volume, has been a Target of hackers since it was founded in 2017. In July 2018, hackers stole more than $30 million worth of digital currency from Binance. The attack affected both Binance’s hot wallet (an online wallet connected to the internet) and its cold wallet (a offline wallet not connected to the internet).
Binance is a cryptocurrency exchange with a focus on the Chinese market and other Chinese coins. Binance was created after a successful ICO that raised 15 million dollars in July 2017. The exchange has grown rapidly since then, and now has over 6 million users.
Binance is one of the most popular cryptocurrency exchanges out there. But is it safe to keep your money in Binance? The short answer is yes, Binance is a safe and secure platform.
Binance, the world’s largest cryptocurrency exchange by trading volume, has been hacked. 7,000 Bitcoin, worth over $40 million, were stolen from the company’s hot wallet, which is connected to the internet. This is the first time that Binance has been hacked, and it’s a big blow to the company and the cryptocurrency industry as a whole. The hack was first discovered on May 7th, 2019.
Binance Earn is an interest-bearing account that allows users to earn daily interest on their cryptocurrency holdings. The program launched in 2020 and has since become one of the most popular ways to earn passive income from cryptocurrency. So, is Binance Earn safe?
Binance is a cryptocurrency exchange that was launched in 2017. Since its launch, Binance has grown to become one of the largest exchanges in the world. Binance is a centralized exchange, which means that it is not decentralized like many other exchanges.
