Binance, the world’s largest cryptocurrency exchange by trading volume, has been hacked.
The hack occurred on May 7, 2019 and resulted in the loss of 7,000 BTC, worth approximately $40 million at the time of writing. This is equivalent to 0.
1% of Binance’s total BTC holdings.
In a statement released on their website, Binance said that the hackers had used a variety of techniques, including phishing, viruses and other attacks, to gain access to a large number of user accounts. Once these accounts were compromised, the hackers used them to withdraw funds from the exchange.
Binance has since suspended all withdrawals and deposits while it conducts a thorough security review. It has also implemented a “SAFU” fund, which will cover any losses incurred by users as a result of the hack.
NOTE: WARNING: Binance is a digital currency exchange platform, and as such it is vulnerable to hacking. It is important to understand that if Binance gets hacked, your account and/or personal information may be compromised. Any funds stored in your Binance wallet may also be at risk of theft or loss. This could lead to financial loss and identity theft. To help protect yourself, it is important to always use strong passwords and two-factor authentication when logging in to the platform. Additionally, never share your login credentials with anyone and make sure you are using the official website when accessing the platform.
This is not the first time that Binance has been hacked. In July 2018, hackers stole $30 million worth of BTC from the exchange.
At the time, Binance had only been in operation for six months.
Despite this, Binance has remained one of the most popular cryptocurrency exchanges in operation. In part, this is due to its strong security practices, which have helped it to avoid many of the hacks that have plagued other exchanges.
The hack is likely to have a negative impact on the cryptocurrency market as a whole. In the short-term, it could lead to a sell-off of BTC and other cryptocurrencies as users lose confidence in exchanges.
In the long-term, it could damage Binance’s reputation and lead to more stringent regulation of cryptocurrency exchanges by governments around the world.
9 Related Question Answers Found
Binance, the world’s largest cryptocurrency exchange by trading volume, can’t seem to catch a break. The latest bad news for the company is that hackers were able to steal over 7,000 Bitcoin (worth around $40 million at press time) from its hot wallet. This is the second time in less than two years that Binance has been hacked, and it’s sure to renew concerns about the safety of centralized exchanges.
It’s no secret that cryptocurrency exchanges have been hacked in the past. In fact, it seems like hardly a week goes by without another exchange being hit. So, the question on everyone’s mind is: can my Binance account be hacked?
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, was hacked in May 2019. The hack resulted in the loss of 7,000 BTC, worth approximately $40 million at the time. Binance has since reimbursed all affected users from its own reserves.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been hacked. The exchange has confirmed that hackers stole 7,000 Bitcoin (BTC) from its hot wallet. The hack was first reported by The Block, which cited “a person familiar with the matter” as saying that the hackers had used a variety of techniques, including phishing and viruses, to steal the funds.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been hacked. The hack occurred on May 7, 2019, and resulted in the theft of 7,000 BTC (worth approximately $40 million at the time). This is the second time that Binance has been hacked, with the first occurring in July 2018.
Assuming you would like an article discussing the implications of disabling a Binance account:
When you disable your Binance account, you are essentially cutting yourself off from the platform. This means you will no longer be able to trade cryptocurrencies, access your account details, or use any of the other features that Binance offers. In short, it will be as if you never had an account on the site in the first place. .
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.
If you forget your Binance password, there are a few things that can happen. First, if you have Two-Factor Authentication (2FA) enabled on your account, you will need to enter your 6-digit code in order to reset your password. If you do not have 2FA enabled, you will need to provide Binance with some personal information in order to reset your password.
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).
