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.
NOTE: WARNING: Binance was recently hacked and users are at risk of having their funds stolen. It is important to take precautions to protect your account and fund security. Be sure to enable two-factor authentication, use strong passwords, and never share your login credentials with anyone. Additionally, it is recommended that you use a hardware wallet for long-term storage of crypto assets.
The hack occurred on May 7, 2019, when a hacker gained access to a Binance user’s account and used that account to transfer 7,000 BTC to their own wallet. Binance quickly noticed the suspicious activity and halted all withdrawals and deposits on the platform.
Binance CEO Changpeng Zhao later announced that the exchange had been hacked and that it would be reimbursing all affected users from its own reserves. He also announced that Binance would be instituting a number of security measures to prevent similar hacks from occurring in the future.
The hack was a wake-up call for many in the cryptocurrency community and highlighted the need for exchanges to improve their security protocols. Binance has since implemented a number of security measures, including 2-factor authentication and risk management systems, to prevent similar hacks from occurring in the future.
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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.
It’s been a tough week for cryptocurrency exchanges. First, it was reported that Binance, one of the largest and most popular exchanges, had been hacked. Then, just a few days later, it was revealed that another major exchange, OKEx, had also been hacked.
In May of 2019, the world’s largest cryptocurrency exchange by volume, Binance, was hacked for over $40 million in Bitcoin. The hack sent shockwaves throughout the crypto community, and left many wondering how such a large and well-known exchange could be breached. In this article, we will take a look at the Binance hack and how it happened.
It’s been a tough week for cryptocurrency exchanges. First, OKEx suspended withdrawals, then KuCoin’s hot wallet was hacked, and now Binance. US is facing some serious allegations.
Binance, the world’s largest cryptocurrency exchange by traded value, can’t be hacked, its founder and CEO Changpeng Zhao said on Thursday. Asked during a live video AMA (ask me anything) on Periscope if Binance could ever be hacked, Zhao said “no,” before adding that “people make mistakes.”
A hack is “theoretically possible, but highly unlikely,” he said. Binance has been known for its security measures since it was founded in 2017.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been hacked. The exchange announced the news on Tuesday, saying that hackers had stolen 7,000 bitcoins worth about $40 million. The hack is a major setback for Binance, which has grown rapidly since it was founded in 2017 and is now one of the most popular cryptocurrency exchanges.
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 loss of 7,000 Bitcoin, worth approximately $40 million at the time. This is not the first time that Binance has been hacked; in March 2018, hackers stole $30 million worth of Bitcoin from the exchange.
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.
