CAN BINANCE REALLY BE HACKED? THIS IS UNBELIEVABLE.

[bittick]

I think that the hack of the exchange is just a technical issue. All that is necessary for hackers is to be technically equipped better than the defense systems of the exchange.

There was an technical issue with syscoin API has been exploited by the scammer. In fact that the scammer able to sell syscoin at the high price and cash out their bitcoin  and that makes this case become so strange for me. How did binance approve their withdrawal?

As I've heard not only that, the hackers also doing 51% attack to SYS so that the transaction can't be rolled back which also means that the hackers seem to have a really huge resource to do so.
Although it's kind of natural to say that no system is safe, the exchange better to tighten their security.

[Clairvoyance]

It wasn't hacked. Some users had their API keys phished, which is entirely their fault and nothing to do with Binance. As usual, Binance's response was swift and professional, and your funds are not at risk.

Totally agree. Binance is not hacked and it is far from hacking for it is one of the top exchange out there in the market. API keys being phished is not a new thing and it might create a buzz by the amount taken but it is not the same as hacking the exchange.

[p3ppymon]

All centralised exchanges can be hacked. No exception! Holding and trading tokens in exchanges is the least secure option amongst the others.
It is good practice for exchanges to reward a bounty in hacking competitions. That is a good investment in security. But never enough.

[Catmony]

My main question now is what exchange do we now trust in term of security when it comes to being safe with our tokens?

Actually binance was not hacked, some of the binance traders got hacked because of their negligance but still security of binance can be questioned because they couldn't monitor the suspicious withdrawal request and massive un-natural pump on syscoin.

Users lost their bitcoin not the binance but we have to keep in mind that none of the exchange or web wallets are secure to store our coins.

[annasadia]

In the crypto world everything is operated by the internet. So it is not a matter of surprise if anything is hacked, and it goes along with the Binance also.

[krassy]

Indeed , I saw an article that last week on the exchange Binance were recorded and tracked abnormal transactions - trading of Syscoin to bitcoin at the rate of 1 Syscoin=96 bitcoin although the usual price of the token is 0.00004 BTC, after that the exchange stopped its work and blocked all operations until the circumstances were clarified. Due to unusual trading on some APIs, Binance will remove all existing API keys as a security precaution. All API users will need to recreate their API keys. Binance has a high rating and a good reputation, I hope that was a misunderstanding.

[harrybell]

Based on this we should not believe these types of news because of there is no proper of official information’s is given based on this we need to listen or accept that news which is informative and trust worthy. So that we can know valid knowledge about this topic.

[kingzpro]

I think yes every centralized exchange or some part or function of it can get hacked, recently we heard about coin rail hack and the hacker was able to take away pundix (npxs) token in millions and after this incident we have seen that the price of this token has been crashing, i assume the hacker is selling this token now on different exchanges causing this dump, we may see more dumps in coming days untill he sells all the tokens.

[hesham51]

Why it's unbelievable! ! ,any Exchange can be hacked what ever the do for their cybersecurity,  don't keep your funds on exchanges for longtime,  I prefer to pay transfer fees rather than keep my money on exchanges

[jin_dv]

A small altcoin Syscoin was subjected to an unusual attack that allowed attackers to change the amount of tokens issued. In March of this year, the exchange has already been subjected to a major attack, then also used the stolen security keys. The cybercriminals got access to the victims ' accounts and sold their tokens to themselves for a ridiculous price.

[Aleshia696]

Well, BINANCE wasn’t really hacked. The actual thing that happened was some of the users had their API key phished. For this reason the problem happened. I believe the other users funds are not in risk. Lets see what happen in the coming days.

[HerbertMarcel]

I don't think it was hacked. I think this is some kind of FUD. We should wait to hear the true story. But as far i know it is quite impossible to hack.

[shaheer001]

Binance has strong defense but nothing is impossible in this world so i think some funds is stolen but again recovered, trust Binanace as it is world top exchange.

[pretfeestje]

Based on what's described in comments isn't it the users that were hacked rather than Binance. Only thing Binance can do is monitor their exchange and look for trade anomalies, then halt trading to minimise future losses. Pretty tough to defend against a user that gets phished. The hackers are technically accessing the system as a legit user so all is normal until they do their thing.

[hi-blessings]

This is actually a sad news. This is so serious. To avoid such from it having much impact on someone another time, I feel ons should not just rely on only one exchange but many.
Thanks

[vv181]

My main question now is what exchange do we now trust in term of security when it comes to being safe with our tokens?

None. But when we talk about our own tokens safety, we definitely could do better ourself, Instead of sending the token to centralized exchanges that hold the private keys of your tokens. Applying the basic security for our own personal computer could definitely better than keeping it on the exchanges.

I believe since more and more exchanges getting hacked, it will be a surely mental boost for decentralized exchanges developers. Since the community really needed a cure for it.

[3kpk3]

It wasn't hacked. Some users had their API keys phished, which is entirely their fault and nothing to do with Binance. As usual, Binance's response was swift and professional, and your funds are not at risk.

Totally agree. Binance is not hacked and it is far from hacking for it is one of the top exchange out there in the market. API keys being phished is not a new thing and it might create a buzz by the amount taken but it is not the same as hacking the exchange.

Exactly. I find it funny that some people actually thought that Binance got hacked without doing proper research in the first place. As soon as I heard the news, I decided to check the news and understood clearly that Binance is still completely secure as expected. People need to stop freaking out and spreading useless FUD since this affects them too in a bad way. Do your research op before opening these kind of threads.

[OuterTech]

I think you should believe it . Binance is the best crypto exchange but it's not mean that this exchange is not hackable . Number of hacker is increasing day by day and I think hacker nowaday is much better than before so nothing is impossible for hacker although it's the best crypto exchange . As I know Binance has been hacked more than 1 time

[HadadC]

No hacking. Be calm. There are a few idiots. Dont panic. I think , binance will figure in short time.

[StephenieDuong]

Binance not a victim of hackers, cant you read? Users, traders using 3rd party software are victims. Hackers user those victims API key to set buy order to push up the price and cash out to their balance.