Binance hacked. 7000 BTC stolen.

[whotookmycrypto]

Huge haul by hackers and this once again highlights the wisdom of the "not your keys not your crypto" saying.

Thankfully in this incident, Binance has stated they will cover all losses.

Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.

Exchanges are vast stores of crypto so are natural targets by hackers. Don't ever leave your funds on there. If an exchange like Binance can be hacked, it speaks volumes about the ability of hackers to penetrate other exchanges.

Stay safe.

For more information on staying safe while using exchanges see: https://whotookmycrypto.com/cryptocurrency-exchange-safety-guide/

Sources:
https://twitter.com/cz_binance/status/1125907214256836608
https://binance.zendesk.com/hc/en-us/articles/360028031711

[xvids]

There is already a thread about this here is the link .
But anyways just as I said on the other thread thanks to them no user funds are going to be affected.
But the trust of their user would surely be affected by this incident.

[TravelMug]

Yeah, it's all over the forum now. It did significantly affect BNB though, but it seems it had recovered. Just sad to hear another exchange getting hack again.

Those hackers are really one step of the game, remember has lots of security measures in place but still the hackers was able to drain before Binance push the red button.

Good thing is that the customers will be covered by their SAFU so for now everything looks good. That's why the price of bitcoin seems not affected by this negative news.

[Tytanowy Janusz]

7000 btc is nothing compared to binance annual profit. They have burned $30 MM worth BNB this quarter (which is only part of their profit). We could say that its a blessing in disguise that binance lost only 40 mil since now they will fix this security issue and become even safer exchange.

[Ziskinberg]

This might be the headline for today, I have seen this news all over this forum, in different boards.

Seems like the effect of this is not felt yet,  or if we felt it, it's not as big as expected.
Hacking incident that only loss the money of Binance don't create a buzz in the space, our funds are safe, that's more important.

Binance can easily earn the amount that has stolen with their huge trading volume.

[Lamperon]

Very sad. I am afraid that this will greatly affect the exchange rate of the BNB token

[sujonali1819]

Finally binance also hacked?? Really the news make trader very sad at this moment and the price of BNB coin can be affected, may be already started to affect. Hope Binance will Strong their security and recover the losses. Thanks

[Questat]

Finally binance also hacked??

Yes, you can see it clear, it's the trending news today.

Really the news make trader very sad at this moment and the price of BNB coin can be affected, may be already started to affect. Hope Binance will Strong their security and recover the losses. Thanks

The amount hack is big but it seems it doesn't affect them a lot since they are very profitable, and they have SAFU funds for the stolen BTC.
BNB was down 7% today but price stayed at $20 which is a good price, don't worry, we will let this pass and bitcoin starts to rally again.

check out the price here - https://coinmarketcap.com/currencies/binance-coin/

[Wind_FURY]

I heard that Binance wanted to pursue a blockchain reorg to recover the stolen coins, I assume campaigning for the big miners to help him. Haha.

The miners are not stupid. They experienced the UASF, they know the community are not to be pushed around.

[Ailmand]

Have read several threads about this. Well, honestly what happened to Binance stopped bitcoin price momentum. It could  be another move to spread FUD and to manipulate the market. Binance is one of the most trusted platform in cryptoand this might cause people's diatrust in platform's security.

Just keep in mind it is never safe to leave huge funds in any exchange, so secure your money and stay safe.

[novaprime]

Have read several threads about this. Well, honestly what happened to Binance stopped bitcoin price momentum. It could  be another move to spread FUD and to manipulate the market. Binance is one of the most trusted platform in cryptoand this might cause people's diatrust in platform's security.

Just keep in mind it is never safe to leave huge funds in any exchange, so secure your money and stay safe.

Only keep your assets when you need short-term investments because recently many exchanges are under attack and Binance is the victim of those attacks. I think the market is really dangerous now and we cannot be sure what will happen next. Today is a very bad day of Binance exchange and my withdrawal today has been delayed for a long time. Hopefully CZ and the development team will have the necessary policies to change the current situation

[mrdeposit]

Finally binance also hacked?? Really the news make trader very sad at this moment and the price of BNB coin can be affected, may be already started to affect. Hope Binance will Strong their security and recover the losses. Thanks

Finally, it was hacked too after the latest delist news
Price of BNB is not affected too much, just a small dump between 20.78- 19.42. Binance should accelerate the whole process about their new DEX.

[AjithBtc]

Finally binance also hacked?? Really the news make trader very sad at this moment and the price of BNB coin can be affected, may be already started to affect. Hope Binance will Strong their security and recover the losses. Thanks

Finally, it was hacked too after the latest delist news
Price of BNB is not affected too much, just a small dump between 20.78- 19.42. Binance should accelerate the whole process about their new DEX.

They are supposed to fulfill several requirements to go legal with the Binance DEX. Hacks are common and now the focus has turned over the leading exchanges. I checked with my funds on Binance and found it secure. If BNB is taken away there will be some crash and I too have a doubt that it can be a way to manipulate as there is continued progress in the market getting close to $6000.

[spadormie]

This is what bothers me when I'm being told that cryptocurrency is safe within the wallet of the exchange. Well technically with the news that creeps out, it is not. This is the first time I heard binance was hacked and 7000 BTC is pretty much nothing compare on their income. I think it's just 2% of their BTCs. But, if a big exchange was hacked, how come btcs price did not go down?

[Genemind]

If Binance which is a top exchange could get hacked, what more with smaller exchanges?
That's the reason why I'm not storing my holdings and funds in exchange. It should be a lesson learned for us not to hold our funds in exchanges for the long term. I still find hard wallet safer to use.

[legendster]

If Binance which is a top exchange could get hacked, what more with smaller exchanges?
That's the reason why I'm not storing my holdings and funds in exchange. It should be a lesson learned for us not to hold our funds in exchanges for the long term. I still find hard wallet safer to use.

Speak for yourself.

Millions of users will continue to store their funds on exchanges, it's a habit that has formed since the advent of internet business. Thank Paypal if you have to, they're the ones who have popularized this notion of leaving your balance in your online wallet without regard to what may happen if you are locked out of it.

[X-ray]

Very sad. I am afraid that this will greatly affect the exchange rate of the BNB token

it doesn't even give a lot of impact to the price of BNB tokens caused by the binance exchange site has announced if all of the funds are safe. you can check your balance when you have some on the binance exchange site.
You should not feel worry and then try to take a look at the binance token market and you will see there was no panic sells from the holders to create a dump. It's only getting a little dump after a big pump and that means a correction.
As long as binance team still cooperative and anything will be fine.

[chenille]

Very sad. I am afraid that this will greatly affect the exchange rate of the BNB token

it doesn't even give a lot of impact to the price of BNB tokens caused by the binance exchange site has announced if all of the funds are safe. you can check your balance when you have some on the binance exchange site.
You should not feel worry and then try to take a look at the binance token market and you will see there was no panic sells from the holders to create a dump. It's only getting a little dump after a big pump and that means a correction.
As long as binance team still cooperative and anything will be fine.

Yes, all funds are safu. Binance is very well prepared against hacks and I think that shows how professional they are managing the platform. They care about security and that's the most important aspect in crypto to be exchange number one.
I'm sad that I didn't purchase Binance Coin BNB when it was low last year...

[Pamadar]

Security all over the place, hackers will penetrate whoever it is as long as they will get something good in returned, we do see this headlines all over the forum and shared our opinions about our securities inside the exchange that we are using, it's good for binance not to try covering this out but to give some updates so investors and traders who \are using the platform will not panic and cash everything out from the site.

[okala]

The whole bitcointalk forum have been filled with this news of binance hack and like I said before this is an unfortunate accident because even CZ himself stated that the hackers have displayed some weakness in the security system which will be worked on. As big as binance being hacked at this period is such a big lost 7000 bitcoin is such a huge amount.