Did binance get hacked?
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Binance exchange has been down for a long time now and the rumor mill is active. here is what John Mcafee tweeted
"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."
but thats John Mcafee and he is not to be trusted considering how he spreads the FUD. Binance official account was quick to reply his tweet
"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"
A quick check of two posted wallet addresses would seem to confirm the company hasn’t been breached. An Ethereum wallet currently holds the USD equivalent of $153 million in Ether. A bitcoin wallet confirms over 84,000 transactions worth a total value of 1.3 million bitcoin (over $11 billion USD), and a current balance of 32,125 bitcoins ($268 million USD).
Their official twitter account has the last update mentioned below
"Estimated time for trading to recommence has not changed. We are still looking at 4am UTC 2018/02/09. Thank you all for continuing to remain so patient. Reminder: We will allow a 30-minute window where users are able to cancel orders prior to trading being opened."
To make things more interesting, here is what their CEO says
"To kill the FUD, we just moved 30,000 BTC from one of our cold wallets to our hot, which only had 2000 BTC before this tx. That one cold address still have 67000 BTC remaining, making the hot only 2%. There are a few more cold addresses. "
If binance does get hacked their token will drop to the very bottom, i will be picking it up big time.
That sucks. They said they would only be down for a little while. I'm glad I have nothing sitting there at the moment. I just read an article on why people should never leave there crypto in exchanges. How ironic!
if you are a trader you dont have much option but to leave it on exchanges. i will be very surprised if it turns out to be true, they seemed like a secure exchange. if an exchange as big as binance gets hacked then the crypto market will crash big time.
Investors should not keep anything on exchange for sure.
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the founder of binance announced the upgrade in January after their move to Singapore. so I'm not worried they have a great team there.