Hackers withdraw 7,000 BTCs from the Binance Exchange

By May 8, 2019 10:22

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From the biggest crypto-exchange Binance hackers withdraw about 7,000 BTCs from hot customers’ wallets, according to Cointelegraph.

It is noted that in the course of a hacker attack, the hackers used a variety of tactics, including phishing and viruses to get a large number of 2FA codes and API keys.

CEO Changpeng Zhao says the total amount of stolen Bitcoin does not exceed 2% of its total volume on the exchange. He also notes that the rest of the traders are not threatened, since this hack will not affect the other wallets, access to which hackers do not have.

In addition, Binance will suspend all deposits and withdrawals while it checks for security in its systems, which, according to Zhao estimates, will last up to one week. At the same time, trading on the exchange will be active, and traders will be able to adjust their open positions, close them, or open new ones.

But still Changpeng Zhao emphasizes:

Please also understand that the hackers may still control certain user accounts and may use those to influence prices in the meantime. We will monitor the situation closely. But we believe with withdrawals disabled, there isn’t much incentive for hackers to influence markets.”

Binance will also use its Secure Asset Fund for Users SAFU, which was set up in July 2018, to cover the incident. It should be noted that in SAFU 10% of the exchange fees are allocated.

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By May 8, 2019 10:22