Topic: what do you make out of Binance hack - page 3. (Read 562 times)
I think the hack can be referred to as a blessing on the other way because looking at the coin which is suppose to be the first hit, one can hardly say it had a problem, it keeps soaring higher and following bitcoin price movement.
With the news Binance is covering 100% of exchange user losses from their SAFU fund, for Bitcoin, it was back to business as usual.
This was a very important issue. I think the market would have been badly affected if it reflected the damage to the incident.
Binance hacked was quite in a news for a time but CZ@Binance has wrapped it smartly and in a short duration. Binance hack was the lesson for exchanges with weak security covers as hackers are becoming smarter and poised with technology hands so exchanges need to be one step ahead of them in every aspect.
Are you by any chance using Internet explorer caveman?
Anyway, I found you and user beaxchange have the same interest in one topic while he discusses reorg there and you discuss this.
Hey, you two just register one minute apart too, coincide? I think not
Anyway, I found you and user beaxchange have the same interest in one topic while he discusses reorg there and you discuss this.
Hey, you two just register one minute apart too, coincide? I think not
On Tuesday May 7th, 2019, Binance suffered the 6th worst cryptocurrency hack in history with around $40 million in Bitcoin stolen from the exchange.
In a statement, Binance CEO Changpeng Zhao calmed the market. The hack only affected Binance’s BTC hot wallet, and no other wallets were impacted. Around 2% of Binance’s total BTC holdings were stolen.
Acting quickly and stopping all withdrawals, Binance issued a statement:
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
In July 2018, Binance setup a secure asset fund (SAFU) for users, allocating 10% of their received trading fees into the fund designed to act as an emergency insurance policy to protect users against losses in the event of a malicious attack.
With the news Binance is covering 100% of exchange user losses from their SAFU fund, for Bitcoin, it was back to business as usual.
https://www.altcoinsidekick.com/blog/wonderwall?
In a statement, Binance CEO Changpeng Zhao calmed the market. The hack only affected Binance’s BTC hot wallet, and no other wallets were impacted. Around 2% of Binance’s total BTC holdings were stolen.
Acting quickly and stopping all withdrawals, Binance issued a statement:
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
In July 2018, Binance setup a secure asset fund (SAFU) for users, allocating 10% of their received trading fees into the fund designed to act as an emergency insurance policy to protect users against losses in the event of a malicious attack.
With the news Binance is covering 100% of exchange user losses from their SAFU fund, for Bitcoin, it was back to business as usual.
https://www.altcoinsidekick.com/blog/wonderwall?
Well the binance hack did not even shake the over-all market unlike the recent attacks on other exchange. Instead it pushed Binance to upgrade their whole platform and tighten their security to make sure that all their users will be safer this time around.
On Tuesday May 7th, 2019, Binance suffered the 6th worst cryptocurrency hack in history with around $40 million in Bitcoin stolen from the exchange.
In a statement, Binance CEO Changpeng Zhao calmed the market. The hack only affected Binance’s BTC hot wallet, and no other wallets were impacted. Around 2% of Binance’s total BTC holdings were stolen.
Acting quickly and stopping all withdrawals, Binance issued a statement:
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
In July 2018, Binance setup a secure asset fund (SAFU) for users, allocating 10% of their received trading fees into the fund designed to act as an emergency insurance policy to protect users against losses in the event of a malicious attack.
With the news Binance is covering 100% of exchange user losses from their SAFU fund, for Bitcoin, it was back to business as usual.
https://www.altcoinsidekick.com/blog/wonderwall?
In a statement, Binance CEO Changpeng Zhao calmed the market. The hack only affected Binance’s BTC hot wallet, and no other wallets were impacted. Around 2% of Binance’s total BTC holdings were stolen.
Acting quickly and stopping all withdrawals, Binance issued a statement:
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
In July 2018, Binance setup a secure asset fund (SAFU) for users, allocating 10% of their received trading fees into the fund designed to act as an emergency insurance policy to protect users against losses in the event of a malicious attack.
With the news Binance is covering 100% of exchange user losses from their SAFU fund, for Bitcoin, it was back to business as usual.
https://www.altcoinsidekick.com/blog/wonderwall?
Jump to: