Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has temporarily suspended all withdrawals and trading on its platform. The move comes after a “large scale security breach” that resulted in the loss of 7,000 BTC (worth approximately $40 million at press time).
In a blog post published today, Binance CEO Changpeng Zhao said that the exchange had detected “irregular trades” on its platform last night. Upon further investigation, the team found that some user accounts had been compromised by hackers who used a variety of techniques, including phishing and viruses.
As a result of the hack, Binance has temporarily suspended all withdrawals and trading on its platform in order to allow for a thorough security review. The exchange is also working with law enforcement to investigate the matter further.
NOTE: Warning: Binance does not reactivate accounts. If your account has been suspended, you must create a new account. Attempting to reactivate an existing account is not possible and may result in further suspension or termination of services.
At this time, it is unclear how long the suspension will last. However, given the seriousness of the situation, it is likely that withdrawals and trading will remain suspended for at least a few days while Binance works to improve its security protocols.
In the meantime, users can still deposit cryptocurrencies into their Binance accounts. However, they will not be able to withdraw or trade any of their funds until the suspension is lifted.
Update: Binance has now reopened withdrawals and trading on its platform.
7 Related Question Answers Found
It may take up to two weeks for your Binance US account to be reactivated. Here’s what you need to do:
1. Submit a ticket to Binance US Support.
It can take up to a week to get verified on Binance, although the process is usually much faster. The first step is to submit your KYC (Know Your Customer) information, which includes your name, address, and country of residence. Once that is approved, you will need to verify your email address and phone number.
It can take up to a week to get verified on Binance, but usually it only takes a few days. The process is simple and straightforward, but there are a few things you need to do before you can start trading. First, you need to create an account on Binance.com.
Binance is a cryptocurrency exchange that launched in July 2017. Since then, it has grown to become one of the largest exchanges in the world. Binance is available in over 180 countries and supports over 40 cryptocurrencies.
Binance is one of the most popular cryptocurrency exchanges in the world, and it allows users to trade a variety of digital assets. However, before you can start trading on Binance, you need to go through the process of verifying your identity. In this article, we’ll take a look at how long it takes for Binance to verify your identity and what you need to do in order to get started.
When it comes to cryptocurrency exchanges, one of the biggest and most popular names in the space is Binance. The company has built up a large user base and reputation over the past few years, making it a go-to choice for many when it comes to buying and selling digital assets. However, like all exchanges, Binance is not without its faults.
It can take up to 2 weeks to get verified on Binance US. The process is simple but requires patience and attention to detail. Binance US is a digital asset exchange that launched in September 2019.
