The Most Shocking News of Crypto-World
BINANCE LOST SEVEN THOUSAND (7,000 ) BITCOIN (btc) TO HACKERS
Edited Image Source: dreamstime
Yesterday may, 7 a news was published by the cointelegraph and other cryptonews bodies saying that Binance, one of the largest cryptocurrency exchanges by daily trade volume, has experienced an attacked by hackers,
This news has put fear in the crypto communities especially the binance users, because binance users informations, data and money is now vulnerable to hackers.
According to the Cointelegraph the hacker break into the security system of binance causing a security breach which affected crypto transaction, leading to the loss of 7,000 Bitcoin......!!. I mean 7,000...!!!!. bitcoins (BTC) worth $40,705,000 at press time.
Letter from Binance
In a letter on Binance’s website, CEO Changpeng Zhao states that the bitcoins were withdrawn from its hot wallets, which contain only 2% of the exchange’s total bitcoin holdings. Zhao states that Binance’s other wallets are unaffected.
Binance will suspend all deposits and withdrawls while it conducts a security review on its systems, which Zhao estimates will take up to one week. Trading will still be active and traders will be able to adjust their positions. Zhao states:
“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.”
Zhao adds that he will conduct a Twitter AMA in a couple of hours to field questions from the community.
Binance will use its Secure Asset Fund for Users (SAFU) to cover the incident. The exchange created the fund in July 2018 as a type of emergency insurance. Binance allocates 10% of its total trading fees to finance SAFU.
This story is developing and will updated in the future.
News Source: pivot news post and cointelegraph
 mining withdrawable Bitcoin.
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