Binance rejects claims of hack amid trading halt
Image source: neonewstoday.com
A cryptocurrency exchange called Binance which is based in Hong Kong has said that they have halted cryptocurrency trading and withdrawal services due to the exchange reportedly upgrading their system. Binance has told the users that they will resume their services on Friday 4 A.M UTC.
This news has led many to believe that the exchange has got hacked, but the Binance official Twitter has turned down any claims of being hacked. According to the Chief Executive Officer (CEO) of Binance, Changpeng Zhao, the data got out of sync due to a server issue and that the team is working on to re-sync it from a master database. Shortly after, he tweeted that fixing the problem did not go according to the plan which caused more anger among the people.
People now easily begin to suspect hacks on cryptocurrency exchanges due to the occurrence of recent events like the hack on Coincheck about 2 weeks ago that led to hackers stealing $500 million worth of NEM(XEM) tokens.