Topic: Binance was hacked=> Everyone should be wary of your wallet and trade on Binance - page 3. (Read 652 times)
May 09, 2019, 05:58:28 AM
Had expected this news to greatly impact on the price of btc but it never did. I remembered how such a similar news made the price of btc to drop hugely in 2017. Currently I think the btc market is very matured that not an attack on a single exchange can cause a huge market charge. Sorry to all those that might have been affected, I think Binance will pay back
May 09, 2019, 05:39:59 AM
As long as they are online all wallets have a chance to get hacked, so if you are going to choose an online wallet the safest I know would be blockchain.com because I haven't heard them lose any money from any hacking at all but maybe they did that I didn't hear about or maybe they will one day in the future.
Basically, use an offline wallet that would have no connection to any central location if you want super safe wallet. There are trezor and ledger nano s and so forth that basically makes sure you are securing yourself without no central data location. Otherwise all of them are still dangerous and including the biggest places there is no place that would be safe for you.
Basically, use an offline wallet that would have no connection to any central location if you want super safe wallet. There are trezor and ledger nano s and so forth that basically makes sure you are securing yourself without no central data location. Otherwise all of them are still dangerous and including the biggest places there is no place that would be safe for you.
May 09, 2019, 04:26:32 AM
If you have an account on Binance, you should do the following steps.
Reset 2FA by disable then turn it on again.
Change your Binance account password.
Make sure your email password is different to Binance account as well having 2FA too.
Reset 2FA by disable then turn it on again.
Change your Binance account password.
Make sure your email password is different to Binance account as well having 2FA too.
May 09, 2019, 04:19:03 AM
=> Everyone should be wary of your wallet and trade on Binance
Do you think the solution of Binance will help increase the price of BNB?
I think it will greatly affect the price of BNB when the withdrawal on binance resumes because people might worry about keeping their funds on exchanges so they will convert into bitcoin or other cryptos then will transfer it into their wallets. Do you think the solution of Binance will help increase the price of BNB?
May 09, 2019, 04:00:42 AM
At 17:15:24 on May 7, 2019 (blockchain time), Binance discovered a massive security attack. Hackers have captured a number of API keys, 2FA security codes and some other information. Criminals have used a variety of attack techniques, from phishing to viruses and other attack tools. There may be some accounts that have been hacked and have not been found yet.
Hackers took away 7,000 BTC in a transaction below: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c3
Binance claims to use the SAFU fund to make up for all lost assets. Therefore, users' assets are completely unaffected. It is important that the deposit / withdrawal will be TEMPORARY in this week. During this time, trading activities were still normal. Hackers may still be controlling some accounts and can use them to influence prices. Binance will closely monitor this situation.
But the floor believes that with the suspension of withdrawal, there will not be much motivation for hackers to manipulate the market.
=> Everyone should be wary of your wallet and trade on Binance
Do you think the solution of Binance will help increase the price of BNB?
I believe that Binance will come back stronger than before. It is the leading exchange in crypto space and I think it will improve its security system and shielding power. It is good that the users will not be affected and this is something that I doubt another exchange would have said because it is a big aamount of money stolen. Anyways, it should be obvious that if an exchange like Binance could be hacked, keep no doubt, others could also be targeted. Hackers took away 7,000 BTC in a transaction below: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c3
Binance claims to use the SAFU fund to make up for all lost assets. Therefore, users' assets are completely unaffected. It is important that the deposit / withdrawal will be TEMPORARY in this week. During this time, trading activities were still normal. Hackers may still be controlling some accounts and can use them to influence prices. Binance will closely monitor this situation.
But the floor believes that with the suspension of withdrawal, there will not be much motivation for hackers to manipulate the market.
=> Everyone should be wary of your wallet and trade on Binance
Do you think the solution of Binance will help increase the price of BNB?
May 09, 2019, 03:51:25 AM
its okay binance said your asset is safe, as long binance can backup their costumer asset we still can trust binance but for the future we should sphread our asset on other wallet too such as cold or another exchange
Centralized exchange cannot be trusted completely, you should be careful and keep your asset safe. With the amount of exchange has been scammed by hacker I tried to move my assets on the exchange centralized slowly, yeah it will take a long time maybe for me to not use centralized exchange because I still use it as trading sometimes. However, I have a strategy that in the future that I'll safe my assets on hardware wallet because that is only one way I can pull to one side from hacker. If I use hardware wallet I have full authority to make my assets safe or not safe so, if someday I loss it I'll blame my self. May 09, 2019, 02:19:23 AM
Some has written an article alleging a possible conspiracy theorem, which I read with some curiosity, he asked some questions how such a huge 7,000BTC could be withdrawn without a special authorization by Binance, and why the KYC of the affected accounts were not disclosed(maybe security reason), and why will a hacker just choose to withdraw $40m when he could have taken more, even that such fund to the segwit wallet is not spendable. I love binance and I trade there, and I always believe them. You can find the link here https://cryptopotato.com/did-binance-really-get-hacked-these-conspiracies-might-prove-otherwise/
May 09, 2019, 02:10:32 AM
At 17:15:24 on May 7, 2019 (blockchain time), Binance discovered a massive security attack. Hackers have captured a number of API keys, 2FA security codes and some other information. Criminals have used a variety of attack techniques, from phishing to viruses and other attack tools. There may be some accounts that have been hacked and have not been found yet.
Hackers took away 7,000 BTC in a transaction below: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c3
Binance claims to use the SAFU fund to make up for all lost assets. Therefore, users' assets are completely unaffected. It is important that the deposit / withdrawal will be TEMPORARY in this week. During this time, trading activities were still normal. Hackers may still be controlling some accounts and can use them to influence prices. Binance will closely monitor this situation.
But the floor believes that with the suspension of withdrawal, there will not be much motivation for hackers to manipulate the market.
=> Everyone should be wary of your wallet and trade on Binance
Do you think the solution of Binance will help increase the price of BNB?
I think we need to be very careful about this, if the biggest exchange in the world can't have a security of their exchange, then you will discover that we have a very big problem and this problem need to be solved as soon as possible, though experts in the Crypto space have always been telling us that we should not keep our coin on exchanges because of the tendency they have of being hacked, we still do this all of the time and we have been getting the reward for our stubbornness. Hackers took away 7,000 BTC in a transaction below: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c3
Binance claims to use the SAFU fund to make up for all lost assets. Therefore, users' assets are completely unaffected. It is important that the deposit / withdrawal will be TEMPORARY in this week. During this time, trading activities were still normal. Hackers may still be controlling some accounts and can use them to influence prices. Binance will closely monitor this situation.
But the floor believes that with the suspension of withdrawal, there will not be much motivation for hackers to manipulate the market.
=> Everyone should be wary of your wallet and trade on Binance
Do you think the solution of Binance will help increase the price of BNB?
May 09, 2019, 02:04:42 AM
They are covering everything that was lost. I do believe they lost more than they are letting on though.
What they declared for now is final, we cannot contest it because it's an internal problem. The amount involve is huge but since we are a billion dollar industry, we can let go of that and Binance have it covered.
This hack incident doesn't seem to cause panic, and that's the good news here.
May 09, 2019, 01:53:04 AM
They are covering everything that was lost. I do believe they lost more than they are letting on though.
May 09, 2019, 01:49:19 AM
It's only 2% of their hot wallet, so everyone should calm down. CZ will covered everything and he is very transparent as to what is going on behind. There was a proposal to do some re-org, but he back up in the last minute.
And if you look at what is happening, the price of bitcoin wasn't affected that much and also the rest of crypto so this bad news has no effect. Of course those who have lost funds in Binance are very wary, but CZ already said that it will be covered by safu.
I have checked my wallet and it's fine just like my friends. 2% of hot wallet(7000 BTC) is low for binance but if hackers can hack any amount if they breach the security of the system. One day they might even target for 20% of funds. Which is definately a huge amount and hard to recover. And if you look at what is happening, the price of bitcoin wasn't affected that much and also the rest of crypto so this bad news has no effect. Of course those who have lost funds in Binance are very wary, but CZ already said that it will be covered by safu.
May 09, 2019, 12:17:11 AM
I heard binance will be responsible for this case and will return the lost funds. and this is a good thing because binance shows a good commitment to solve this problem.
and I will still use binance, even though now the security is questioned.
and I will still use binance, even though now the security is questioned.
May 08, 2019, 11:49:36 PM
It's only 2% of their hot wallet, so everyone should calm down. CZ will covered everything and he is very transparent as to what is going on behind. There was a proposal to do some re-org, but he back up in the last minute.
And if you look at what is happening, the price of bitcoin wasn't affected that much and also the rest of crypto so this bad news has no effect. Of course those who have lost funds in Binance are very wary, but CZ already said that it will be covered by safu.
And if you look at what is happening, the price of bitcoin wasn't affected that much and also the rest of crypto so this bad news has no effect. Of course those who have lost funds in Binance are very wary, but CZ already said that it will be covered by safu.
May 08, 2019, 11:25:07 PM
its okay binance said your asset is safe, as long binance can backup their costumer asset we still can trust binance but for the future we should sphread our asset on other wallet too such as cold or another exchange
May 08, 2019, 07:50:34 PM
Even if they got hack they found a soultion well they have safu that will use to replace the funds and according to cz the wallet that got hack is the hot wallet and not totally the exchange so better calm and your funds was safe in the binance there is nothing to worry about they undergo maintenance for one week.
May 08, 2019, 07:37:55 PM
It is not the first time for Binance being hacked and it is not a big deal for them to refund their customers who`s assets has been stolen. It will not affect long term price of BNB , but this incident raise many questions.
Our funds are not secure on exchanges and we should not hold our assets there.
Our funds are not secure on exchanges and we should not hold our assets there.
May 08, 2019, 07:25:25 PM
How it will increase the price of binance it will decrease the price even it may go worst . I had faith on this exchange now it is also lost . I think now kucoin and I box will be the best crypto exchanges. Concentrate on those tokens.
I don't think this attack will have any direct negative effect on binance coin because the $7000 that was stolen in not in binance coin but in bitcoin and since the exchange have a reserves that found such accidents it will not have much Borden on the exchange. More than 24 hours ago and the price has not changed much. However to protect your property first by keeping it in your cold wallet
May 08, 2019, 07:22:34 PM
Just be careful on your account handling while trading and other stuff but Binance will surely take care of you when it comes to the amount you have lost I will just suggest you hold on anything complex activities like withdrawal of large asset to avoid delays and suspicion
I also wrote this article to inform people of this and be careful with my assets. However, maybe Houbi or Okex or any other exchange will be the next target for hackers.
If we have the best property we should store it in a cold wallet
May 08, 2019, 06:26:42 PM
Overall, the evidence is quite convincing. It is not 100% guaranteed and there may be other things to consider, but it is definitely something to consider.
It is not clear why Binance would claim it was a theft, which is even worse than admitting that it was simply a mistake.
On the bright side, 7,000 Bitcoins have just been burned. Theoretically, this means that the rest is a little more valuable.
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You shared some very interesting information. I feel like this is what could have happened but lying that it was a hack is so much worse than than admitting to a mistake.
If the money is really stuck and not hacked it should increase the value of the remaining coins. I saw people asking why the price was unaffected so maybe you have the answer to that. One thing is sure to me. The liar CZ lost a lot of credibility today.
May 08, 2019, 06:16:37 PM
How it will increase the price of binance it will decrease the price even it may go worst . I had faith on this exchange now it is also lost . I think now kucoin and I box will be the best crypto exchanges. Concentrate on those tokens.
I don't think this attack will have any direct negative effect on binance coin because the $7000 that was stolen in not in binance coin but in bitcoin and since the exchange have a reserves that found such accidents it will not have much Borden on the exchange. Jump to: