Binance is one of the most popular cryptocurrency exchanges out there. It’s been around since 2017 and has grown to become one of the biggest exchanges in terms of trading volume. So what happened to Binance?
The answer is: not much. Binance is still going strong, despite a recent hack that saw 7,000 BTC stolen from the exchange.
NOTE: WARNING:
Binance is currently undergoing a system upgrade and is expected to be down for a few hours. During this time, it will not be possible to perform any activities on the platform such as deposits, withdrawals, or trading. Any open orders will also be canceled and funds will remain safe in your account. Please do not attempt to access Binance during this time as you may risk compromising the security of your funds. We apologize for any inconvenience caused and thank you for your patience.
Binance has since reimbursed all customers who were affected by the hack, and has even implemented new security measures to prevent something like this from happening again.
So rest assured, Binance is still a safe and secure place to trade cryptocurrencies. And with their new security measures in place, it’s likely that they’ll be able to stay safe from future hacks as well.
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Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been “hacked” in a major security breach. The hack took place on May 7, 2019 and resulted in the loss of 7,000 Bitcoin (BTC), worth over $40 million at the time. The hack was first detected by Binance’s security team, which immediately initiated a “thorough security review.” As part of this review, Binance suspended all withdrawals and trading on its platform.
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