The Binance hack incident, however elegantly handled, did create a bit of a turmoil in the markets, not only because of the amount that was stolen (roughly 7,000 Bitcoin, or approximately $41 million), but because of the suspension of deposits and withdrawals on the biggest crypto exchange in the world.

And with the crazy swings the crypto market saw during the last couple of days, this suspension created a lot of frustration amongst traders willing to ride the volatility wave.

Luckily, according to a tweet by Changpeng Zhao, or CZ, how it's better known, the Binance CEO, deposits and withdrawals will be restored as soon as tomorrow, Tuesday, May 14th.

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Still unsure if this will happen in the morning or in the afternoon, though.

I think this incident is important because of the volume of the exchange. Restricting the capital movement in the largest crypto exchange can easily create market effects.

It wouldn't be far fetched, in my humble opinion, to count this situation as one of the causes of the latest Bitcoin surge.

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I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.

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