Binance Hacked?

in #cryptocurrency3 years ago

It looks like Binance had some sort of hack happen today. My best guess right now is that certain API keys were compromised allowing trades to happen that weren't authorized by the user.

If you are using Binance and have coins stored there:

  1. Make Sure you are using two factor authentication
  2. Revoke API keys you aren't 100% confident in their security
  3. Move your coins off into secure wallets if you still feel uneasy

Just wanted to get the word out to anyone not aware of what's happened this morning. Looks like all my coins on Binance are fine and I revoked all my API keys that I was previously using with profit trailer. All is well and I will continue to hodl!

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Maybe an inappropriate time for a dancing hodlman...

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It was only a matter of time till they got hit as a major exchange. Coinbase should be up next or something. Either way sadly HODL. I have been holding for so long I'm getting bored of the market

It's all about the hodl. I would go crazy trying to do day trading.

I think I might just pull out from crypto entirely, not only has it been horrible investment but it's also not secure which is ridiculous considering this is supposed to be the high tech future and yet it's totally susceptible to hacking. I've had brokerage accounts for 20 yrs and never had a problem or heard of anyone losing money via a hack (and don't need a "hard wallet" or other stupid crap), and yet with crypto and all this security things are getting hacked left and right, then add in all the FUD....it's pathetic.

That is the unfortunate part about crypto being the wild wild west of investing. There is an insane risk right now because there are tons of best practices that haven't been completely established across the insane amount of exchanges, coins, and tokens that have popped up over the last couple years.

I sadly think your feelings above are being felt by lots of people right now.

Even with this market dip to start the year, I've made more money in crypto than any investment outside. I've almost tripled what I've put in so far and I think the risk is well worth the potential rewards. The markets are still wildly volatile but I can't see cryto just fading into nothing so I for one am in this for the long run. The space is still adapting and evolving and over time more safety and control will come. If you take the proper precautions you are just fine holding cryptocurrencies.

I felt that the thing will happen when they added a referral system. Maybe I am wrong but I think that only week exchangers use the referral system. look at poloniex and bittrex they don't use and I think their security is much better.

I've been quite happy with Binance but I will be looking to move a bunch of my coins off of the exchange after this. I don't have a ton sitting there but this was a good reminder about the risks of leaving your coins on an exchange.

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