The Binance FUD
On the 8th of February, there was some FUD surrounding Binance after they suspended trading .
For those who dont know, Binance is the one of the leading and possibly the best centralized cryptocurrency exchange out there right now.
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There were rumors of Binance servers being hacked with John McAfee leading the FUD.
He tweeted the following below to over 700k cryptocurrency enthusiasts.
Binance has suspended trading. The company claims that they are doing a system upgrade and will resume at 2:00 AM GMT Friday. While I have no hard evidence, rumours are flying among top crypto influencers that they may have been hacked. Will keep you informed.
— John McAfee (@officialmcafee) February 8, 2018
Fortunately, Binance was available to give us some original information.
Binance has not been hacked. Please do not spread false information. If you want to keep updated on the status of our system upgrade you're welcome to follow @cz_binance or @binance_2017
— binance (@binance_2017) February 8, 2018
According to the CEO of Binance, Changpeng Zhao (popularly known as CZ), Binance experienced a server issue on their replica database cluster, causing some data to be out of sync and the needed to fully resync from the master.
Binance is fully operational again.
They were very responsive to during the downtime period.
This hack FUD though is another reason why you might want to seriously consider moving your cryptoassets away from centralized exchanges. Centralized exchanges are not the most secure place to store your assets. Use officially recommended wallets to store your cryptoassets.
Only keep your cryptos on centralized exchanges if you're looking to day trade with them.
The best place to look for information surrounding a project or investigate rumors are official accounts of the project.
Disclaimer: I am just a bot trying to be helpful.
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