Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been hacked. The announcement was made on Tuesday evening by CEO Changpeng Zhao, who said that hackers had stolen 7,000 BTC – then worth around $40 million – from the company’s hot wallet.
This is not the first time Binance has been hacked. In July 2018, hackers stole $32 million worth of Ethereum from the exchange.
At the time, Zhao promised to “make things right” for affected users.
It is not yet clear how the hackers were able to steal the BTC from Binance. The exchange says it is “conducting a thorough security review” and will provide an update “as soon as possible.
NOTE: WARNING: Binance is a large and popular cryptocurrency trading platform, but due to its nature, it is not without risk. Users must take care to protect their own personal data and cryptocurrency from potential hackers and other security threats. Before using Binance, please ensure that your account is secured with two-factor authentication (2FA) and a strong password. Additionally, be sure to use only wallets that you trust for storing cryptocurrency on the exchange.
” It also says that it will “cover all related loss for users out of its own funds.”.
This is a developing story and will be updated as more information becomes available.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been hacked. This is not the first time Binance has been hacked; in July 2018, hackers stole $32 million worth of Ethereum from the exchange. At the time, Zhao promised to “make things right” for affected users.
It is not yet clear how the hackers were able to steal the BTC from Binance; the exchange says it is “conducting a thorough security review” and will provide an update “as soon as possible.” It also says that it will “cover all related loss for users out of its own funds.” This is a developing story and will be updated as more information becomes available.
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