Binance was hacked=> Everyone should be wary of your wallet and trade on Binance

[okala]

How it will increase the price of binance it will decrease the price even it may go worst . I had faith on this exchange now it is also lost . I think now kucoin and I box will be the best crypto exchanges. Concentrate on those tokens.

I don't think this attack will have any direct negative effect on binance coin because the $7000  that was stolen in not in binance coin but in bitcoin and since the exchange have a reserves that found such accidents it will not have much Borden on the exchange.

[BOoOBa]

As if by chance..... the same situation 1 year ago, the bigger the bigger the situation, the more it passes for the Profession of puppeteers...  Don't forget that BTCs are traceable Remember last summer" that's on July 04, 2018: https://cryptofr.com/topic/13823/hack-de-7000-btc-possible-sur-binance one year later the same record: https://binance.zendesk.com/hc/en-us/articles/360028031711-Binance-Security-Breach-Update - Binance indicated today that Binance will use the #SAFU fund to fully cover this incident. No user funds will be allocated. As a reminder, on July 3, 2018, Binance announced the launch of the Secure Asset Fund for Users. https://www.binance.vision/glossary/secure-asset-fund-for-users so in almost 1 year there has been a 10% accumulation on each transaction fee / commission so "because" of this new hack Binance can reinject the value of part of this accumulated fund directly "into the company's turnover" so on two tables "so that later on the value of its BnB can be upgraded with 40M... Another situation, Binance is suspending everything... ok as if by chance, until May 15, 2019 when Bitcoin Cash's new hard Fork promises to be epic... A user has an operating force that allows him/her to make 51% and double expenses with a reserve of several hundred million it will be joyful for some people! The most epic thing is that this BCH fork is to increase the size of the block.

[Coltpython]

Worst part of the Binance hack was the Binance CEO planning on attacking the Bitcoin blockchain to reverse the transaction.

This is likely the most scandalous tweet in crypto:

https://twitter.com/cz_binance/status/1125996194734399488

This raises so many questions. He talked about it like he could easily do it. I have no reason to doubt him now, but I used to think Bitcoin was safe from this kind of attack.

These guys can inject whatever they want into the Blockchain?

This is the scary part of binance CEO. To think he actually brought this up on social media. How do people now trust bitcoin when someone somewhere can hold a backdoor meeting with miners to manipulate and reverse transactions

[Piston Honda]

lol even the big boy exch's just as fucked and sketchy...what a shocker.  

i know it's quiet now but 1ex.trade owners are crazy about security and soon it'll show  

[rachman mahesa]

Are accounts being locked?

Base one what I have read on telegram, there were only few accounts that were affected and binance already announce that they are going to refund those who were affected. Though they there were coins taken by the hacker its just few though 7000BTC seem not affecting the market.

I also agree with you that the hacked 7000+ BTC certainly will not affect the crypto market for sure. As binance said, Binance will use #SAFU funds to cover this incident in full. There are no user funds that will be affected. And with this incident, of course binance will improve with even better security.

[adzino]

Sad to see exchanges getting hacked. No matter how much they claim that their security is top notch there is always a way to hack into their system. The hackers are always one step  ahead of them. This is another reason why people shouldn't be storing their coins in an exchange for a long term. Though its good to see user funds are secured and they are taking responsibility.
And I don't think the price of binance is going to rise cause of this.

[Tosyn2]

At 17:15:24 on May 7, 2019 (blockchain time), Binance discovered a massive security attack. Hackers have captured a number of API keys, 2FA security codes and some other information. Criminals have used a variety of attack techniques, from phishing to viruses and other attack tools. There may be some accounts that have been hacked and have not been found yet.
Hackers took away 7,000 BTC in a transaction below: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c3

Binance claims to use the SAFU fund to make up for all lost assets. Therefore, users' assets are completely unaffected. It is important that the deposit / withdrawal will be TEMPORARY in this week. During this time, trading activities were still normal. Hackers may still be controlling some accounts and can use them to influence prices. Binance will closely monitor this situation.

But the floor believes that with the suspension of withdrawal, there will not be much motivation for hackers to manipulate the market.

=> Everyone should be wary of your wallet and trade on Binance

Do you think the solution of Binance will help increase the price of BNB?

I never imagined that binance of all exchanges could be hacked. Anyways the did has been done and I believe every corrective actions must have been taken and also heads up for other exchanges who are not as strong as binance in terms of security.

[Mcmich]

Worst part of the Binance hack was the Binance CEO planning on attacking the Bitcoin blockchain to reverse the transaction.

This is likely the most scandalous tweet in crypto:

https://twitter.com/cz_binance/status/1125996194734399488

This raises so many questions. He talked about it like he could easily do it. I have no reason to doubt him now, but I used to think Bitcoin was safe from this kind of attack.

These guys can inject whatever they want into the Blockchain?

This shows that no exchange wallet is safe from hack no matter how big or popular. Everyone just needs to be careful not to store huge funds in exchange wallets. If I may ask, is it even possible to get the bitcoin blockchain reverse the transactions? The hacker probably would've converted to cash.

[Nasonn]

CZ has been able to handle this fairly, most importantly is that users funds are insured against such happenings so there is no loss of funds. Every stolen money will be refunded by Binance. No need for panick.

[SlimShadyMmp]

Just be careful on your account handling while trading and other stuff but Binance will surely take care of you when it comes to the amount you have lost I will just suggest you hold on anything complex activities like withdrawal of large asset to avoid delays and suspicion

[pixie85]

<snip>

Overall, the evidence is quite convincing. It is not 100% guaranteed and there may be other things to consider, but it is definitely something to consider.

It is not clear why Binance would claim it was a theft, which is even worse than admitting that it was simply a mistake.

On the bright side, 7,000 Bitcoins have just been burned. Theoretically, this means that the rest is a little more valuable.
[/size]

You shared some very interesting information. I feel like this is what could have happened but lying that it was a hack is so much worse than than admitting to a mistake.

If the money is really stuck and not hacked it should increase the value of the remaining coins. I saw people asking why the price was unaffected so maybe you have the answer to that. One thing is sure to me. The liar CZ lost a lot of credibility today.

[rijaljun]

Nothing to worry about that. Beside the hack was a real incident or just a game that played by any party at least Binance team has taken a right decision and ready to recover the loss with SAFU (Secured Asset Fund for Users) which resulted this news to has no impact on Bitcoin price.

[nikola22]

Binance says that all the losses will be refunded so there is no reason to worry. also their security system will be updated.

[mrdeposit]

How it will increase the price of binance it will decrease the price even it may go worst . I had faith on this exchange now it is also lost . I think now kucoin and I box will be the best crypto exchanges. Concentrate on those tokens.

I don't think this attack will have any direct negative effect on binance coin because the $7000  that was stolen in not in binance coin but in bitcoin and since the exchange have a reserves that found such accidents it will not have much Borden on the exchange.

I also know the lost funds will be recovered soon by the Binance CEO but we are talking about something else. It is dangerous to leave the big amounts of BTC on centralised exchanges and this hacking news proved it.

[xenomorphe1]

<snip>

Overall, the evidence is quite convincing. It is not 100% guaranteed and there may be other things to consider, but it is definitely something to consider.

It is not clear why Binance would claim it was a theft, which is even worse than admitting that it was simply a mistake.

On the bright side, 7,000 Bitcoins have just been burned. Theoretically, this means that the rest is a little more valuable.
[/size]

You shared some very interesting information. I feel like this is what could have happened but lying that it was a hack is so much worse than than admitting to a mistake.

If the money is really stuck and not hacked it should increase the value of the remaining coins. I saw people asking why the price was unaffected so maybe you have the answer to that. One thing is sure to me. The liar CZ lost a lot of credibility today.

I have read your theory and it is very possible. If it is true, it is a shame that a CEO needs to lie to his investors and users to protect his employees. I suppose that if an employee did it, he surely has already been fired (or he is under CZ protection?). If not, it will cost him his whole life and maybe more to try to reimburse the company. It is sad, but it can happen. That would explain why other coins/tokens were not affected by the "hack".

[bounty.cvn]

Just be careful on your account handling while trading and other stuff but Binance will surely take care of you when it comes to the amount you have lost I will just suggest you hold on anything complex activities like withdrawal of large asset to avoid delays and suspicion

I also wrote this article to inform people of this and be careful with my assets. However, maybe Houbi or Okex or any other exchange will be the next target for hackers.

If we have the best property we should store it in a cold wallet

[bounty.cvn]

How it will increase the price of binance it will decrease the price even it may go worst . I had faith on this exchange now it is also lost . I think now kucoin and I box will be the best crypto exchanges. Concentrate on those tokens.

I don't think this attack will have any direct negative effect on binance coin because the $7000  that was stolen in not in binance coin but in bitcoin and since the exchange have a reserves that found such accidents it will not have much Borden on the exchange.

I also know the lost funds will be recovered soon by the Binance CEO but we are talking about something else. It is dangerous to leave the big amounts of BTC on centralised exchanges and this hacking news proved it.

More than 24 hours ago and the price has not changed much. However to protect your property first by keeping it in your cold wallet

[blokklanc]

It is not the first time for Binance being hacked and it is not a big  deal for them to refund their customers who`s assets has been stolen. It will not affect long term  price of BNB , but this incident raise many questions.
Our funds are not secure on exchanges and we should not hold our assets there.

[aizen10]

Even if they got hack they found a soultion well they have safu that will use to replace the funds and according to cz the wallet that got hack is the hot wallet and not totally the exchange so better calm and your funds was safe in the binance there is nothing to worry about they undergo maintenance for one week.

[ariyzt]

its okay binance said your asset is safe, as long binance can backup their costumer asset we still can trust binance but for the future we should sphread our asset on other wallet too such as cold or another exchange