Binance, one of the world’s largest cryptocurrency exchanges by trading volume, has locked accounts of users in at least two regions after identifying “suspicious activity.”
The exchange said it is investigating “phishing and other types of attacks” and is working with law enforcement. It did not say how many accounts were affected or which countries they were in.
In a statement, Binance said it had “reason to believe that multiple accounts were compromised by phishers using a variety of techniques.”
“We are still working to determine the exact number of affected users, and we will update everyone as soon as possible,” the exchange said.
Binance urged users to enable two-factor authentication (2FA) and to use different passwords for different accounts. It also advised users to never click on links from unknown sources.
NOTE: WARNING: If your Binance account is locked, do not attempt to access it without contacting Binance support first. Attempting to access your account without proper authorization could lead to further account restrictions and possible legal repercussions.
The exchange said it would reimburse any losses caused by the attack from its “safu” fund, which is designed to protect users from hacking incidents.
Binance has been plagued by hacks in the past. In May 2019, the exchange lost 7,000 bitcoin (worth about $40 million at the time) to hackers who used phishing and viruses to gain access to user accounts.
In July 2018, Binance announced that it had identified “unauthorized activity” on its platform and suspended withdrawals for a week while it investigated the incident. The exchange later reimbursed users who lost money as a result of the hack.
Binance is not the only cryptocurrency exchange to have been Targeted by hackers. In January 2018, Japanese exchange Coincheck lost $530 million worth of digital currency to hackers.
And in June 2018, South Korean exchange Bithumb was hacked and lost $30 million in digital currency.
Why Is My Binance Account Locked? – Conclusions: Binance has locked accounts of users in at least two regions after identifying “suspicious activity.” The exchange said it is investigating “phishing and other types of attacks” and is working with law enforcement.
10 Related Question Answers Found
If you are a US citizen trying to access your Binance account, you may have noticed that it is locked. This is because Binance US is not currently available to US citizens. While this may seem like a frustrating restriction, there are actually a few good reasons for it.
Binance, one of the world’s largest cryptocurrency exchanges by trading volume, is currently locked due to what appears to be a network issue. The exchange first announced that it was experiencing “irregularities” with its trades around 03:00 UTC on February 8. Binance then halted all trading on its platform at 03:14 UTC.
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.
There are a few reasons why your funds might be locked on Binance. One possibility is that you have reached your daily limit for withdrawals. Binance has a withdrawal limit of 2 BTC per day for unverified accounts and 100 BTC per day for verified accounts.
If you are a Binance user, you may have noticed that your account has been suspended. This can be a frustrating experience, especially if you are not sure why it happened. There are a few possible reasons for why your Binance account may have been suspended.
If you are having trouble accessing your Binance account, there are a few things you can do to try and fix the issue. First, make sure that you are using the correct email address and password. If you have forgotten your password, you can reset it by clicking the “Forgot Password” link on the login page.
Binance, one of the world’s largest cryptocurrency exchanges, recently disabled user accounts without warning or explanation. The affected users took to social media to express their frustration, with some speculating that the exchange had been hacked. Binance has since issued a statement saying that the disabled accounts were part of a “routine security review” and that no user funds were lost or stolen.
If you’re having trouble accessing your Binance account, there are a few possible explanations. First, it’s possible that you simply forgot your password. In this case, you can click the “Forgot Password” link on the Binance login page and follow the instructions to reset your password.
If you are a Binance user, you may have noticed that your account has been banned. This is because Binance has recently implemented a new policy that bans accounts that are inactive for more than two years. While this may seem like a harsh policy, it is actually in line with other exchanges who have similar policies.
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.
