Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been “temporarily” frozen following a hack that saw 7,000 bitcoin (BTC) stolen from its hot wallet.
The hack was first noticed by Binance CEO Changpeng Zhao on Twitter, who said that the exchange had experienced a “large scale security breach” and that it would be “fully cooperating” with law enforcement.
According to a later update from Binance, the hackers had used a variety of methods to gain access to a number of user accounts and then used those accounts to withdraw 7,000 BTC from the exchange’s hot wallet. The withdrawals were made to a single bitcoin address and Binance is currently working to track down the funds.
NOTE: WARNING: Binance has been known to freeze user accounts due to suspected malicious activities. If your account is frozen, it is important to contact Binance Customer Support immediately to investigate the issue and resolve it. Additionally, you should double check any recent actions you have taken (such as large withdrawals or deposits) that could have triggered the freeze. Be sure to provide as much detail as possible when contacting support so that they can help you quickly and efficiently.
The exchange has since moved all of its remaining BTC funds to cold storage and has halted all withdrawals and deposits while it investigates the matter further. It is also working on creating a new security system that will be implemented before withdrawals and deposits are resumed.
At the time of writing, it is still unclear how exactly the hackers were able to gain access to user accounts or how they were able to withdraw the funds without being detected. Binance has said that it will provide updates as it learns more.
This is not the first time that Binance has been hacked, as the exchange was also Targeted in a phishing attack in 2018 that saw hackers steal over $40 million worth of bitcoin. However, this is by far the largest hack that Binance has suffered and is likely to have a significant impact on the cryptocurrency market.
The news of the hack caused the prices of many major cryptocurrencies to drop sharply, with bitcoin falling over 5% in the hours after the news broke. The hack also highlights once again the importance of storing cryptocurrencies in secure wallets, rather than on exchanges which can be vulnerable to attack.
10 Related Question Answers Found
If you’re a cryptocurrency user, there’s a good chance you’ve heard of Binance. Binance is one of the largest cryptocurrency exchanges in the world, and it offers a wide variety of services to its users. One of those services is the ability to trade cryptocurrencies.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is getting shut down. The popular exchange announced today that it will be “winding down” its operations in Japan. This is not the first time Binance has had to shutter its doors in a country.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has been down for over two hours amid a major system upgrade. The downtime, which began at around 02:00 UTC on Wednesday, is part of the exchange’s regularly scheduled quarterly “system upgrade.” However, the prolonged nature of the outage has left many users frustrated, with some even speculating that the exchange may have been hacked. At the time of writing, Binance is still down and there is no word on when it will be back up and running.
Binance, the world’s largest cryptocurrency exchange by trading volume, is illegal. The company is not licensed to operate in the United States or any other country. The company’s CEO, Changpeng Zhao, has a history of fraud and deception.
Binance, one of the world’s largest cryptocurrency exchanges, is shutting down. The Malta-based company announced the decision today, saying that it will “make all the necessary arrangements” to ensure a smooth transition for its users. The move comes as a surprise, as Binance has been one of the most successful cryptocurrency exchanges in recent years.
It’s been a little over two weeks since Binance US first opened up account registration on its platform, and users are still waiting for their accounts to be verified. So, why does it take so long to verify a Binance US account? There are a few reasons why verification might take longer than usual on Binance US.
Binance, the world’s largest cryptocurrency exchange by traded value, has been in the news a lot lately. The company has been accused of manipulating the market, and is now facing a class action lAWSuit. However, the company has denied all these allegations.
Binance Coin (BNB) is currently down 5.41% against the US Dollar (USD) and trading at $15.14. The 24-hour trading volume is $316.
39 million. The total market capitalization is $2.21 billion.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is set to leave the United States. The decision comes after the launch of Binance US, a US-based crypto exchange. The move will see Binance US operate independently from Binance, with the latter continuing to serve international markets.
Binance is one of the most popular cryptocurrency exchanges in the world. However, users have reported that Binance deposits have failed for them on occasion. There can be a few different reasons for this.
