BINANCE AANOUNCEMNT
We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak.
As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised.
Please remain patient and we will provide an update as quickly as possible.
Withdrawals are temporarily disabled at this time.
What are the steps to protect your Bitcoin from hack in an exchange platform?
What have you done to your account to protect it?
Your positive answers will be appreciated.
This just proves that even the most trustworthy exchanges can have problems.
And the best choice to make is always to store your funds off an exchange. Whether you are a trader, long term accumulator, or even just storing a part of your portfolio in crypto that you would like to sell off in a few months.
Nobody can predict what's going to happen next to an exchange, you can't control it either. Whether it's your fault or the exchange's fault.
In this case, even otherwise unaffected users in terms of the phishing attack/hack are being affected due to bitcoin withdrawal being suspended. And no longer can they make transactions temporarily, which really sucks. Wouldn't have happened if you had your money in a private key that you had custody over.