Binance HACKED? NO! Here's whats going on...
This is going to address Binances down time, and how you need to think of things critically. I did a video earlier stating that I was having trouble logging on to my Binance account, so I went and did some more research, this is what I concluded. First and foremost Binance has not been hacked, and has NOT exit scammed. Your currencies are safe. According to the CEO, they experienced a server issue on the replica database cluster causing some dated to be out of sync, and they need to re-sync from the master due to the size of the data, and it will take several hours. But Binance is giving us updates every two hours from their Twitter Feed.
Technology is a complicated thing. Binance has only been operating since July 2017 so they’re relatively new to the space. While you might think that having their servers down for 24 hours is unforgivable, they have been very communicative with the community. They will re-open at 4:00 AM Universal Time, which is 2:00AM for everyone else. Prior to trading coming back online, there will be a 30 minute window where you can cancel your previous orders.
Servers are still down, and everybody’s freaking out, but they’re working on this issue, and they’ll have them working as soon as possible. There’s no mention of compensation. BUT here’s the thing, if you’re freaking out about this it’s because of one or two things. FIRST: You’re either believing people who are intentionally misleading you. Second: Or that you have way too much crypto’s on Binance and are panicking that you lost it.
Don’t believe the media, or the fud. Do some of your own homework and try to get to the bottom of it yourself. Use some rational thinking, and look how transparent Binance has been with this. If this was a scam, they'd be shady, and wouldn't communicate with the public at all.
Binance Official Docs Link from their Twitter Page:
https://github.com/binance-exchange/binance-official-api-docs/blob/master/wapi-api.md
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Good luck master
Thank you as always, good sir!
followed
Ya I thought binance could have been hacked at first. Glad to see that it's back on!
Its not up just yet, as of 3:30 PST, but will be early tomorrow morning. I had a slight heart attack when I read some fud that said they were hacked. Thankfully that was just clickbait.
Ya because if they were hacked that would completely destroy the market... P.S. I also wrote some clickbait about it being hacked as well🤣🤣https://steemit.com/cryptocurrency/@cryptodj99/did-binance-just-get-hacked-scam-alert
Haha aint nothin wrong with a clicky-bait! As long as its good!
Hahaha
I still can't access Binance at the regular URL from where I am...
They're stating that it'll be back up and running at 4:00 am Universal Time. You just needed to read a little further :)
Freaking NORKs messing up crypto for everyone.
Haha! We can never have any fun! (crossing arms, pouty-face)...
yeh, no hack they just needed to update and copy and transferring info its just database but people are impatient, they didn't realize it was going to take that long and had a hiccup
I didn't even read any fud!
Still, it was a bit of a wake-up call to not leave any of your coins on an exchange. Cost-nothing lesson.
The fact is...users can't access their funds, regardless of the reason. How many times will the typical user allow this experience to "jolt" their feeling of security before the retreat to OpenLedger on Bitshares, or a USB drive. Just sayin'!
I'm new at binance , good post :)