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

[Yaunfitda]

It's only 2% of their hot wallet, so everyone should calm down. CZ will covered everything and he is very transparent as to what is going on behind. There was a proposal to do some re-org, but he back up in the last minute.

And if you look at what is happening, the price of bitcoin wasn't affected that much and also the rest of crypto so this bad news has no effect. Of course those who have lost funds in Binance are very wary, but CZ already said that it will be covered by safu.

[aprilnot]

I heard binance will be responsible for this case and will return the lost funds. and this is a good thing because binance shows a good commitment to solve this problem.

and I will still use binance, even though now the security is questioned.

[hdclover]

It's only 2% of their hot wallet, so everyone should calm down. CZ will covered everything and he is very transparent as to what is going on behind. There was a proposal to do some re-org, but he back up in the last minute.

And if you look at what is happening, the price of bitcoin wasn't affected that much and also the rest of crypto so this bad news has no effect. Of course those who have lost funds in Binance are very wary, but CZ already said that it will be covered by safu.

I have checked my wallet and it's fine just like my friends. 2% of hot wallet(7000 BTC) is low for binance but if hackers can hack any amount if they breach the security of the system. One day they might even target for 20% of funds. Which is definately a huge amount and hard to recover.

[heyspongebob]

They are covering everything that was lost. I do believe they lost more than they are letting on though.

[Maslate]

They are covering everything that was lost. I do believe they lost more than they are letting on though.

What they declared for now is final, we cannot contest it because it's an internal problem.
The amount involve is huge but since we are a billion dollar industry, we can let go of that and Binance have it covered.

This hack incident doesn't seem to cause panic, and that's the good news here.

[Cosbycoin]

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 think we need to be very careful about this, if the biggest exchange in the world can't have a security of their exchange, then you will discover that we have a very big problem and this problem need to be solved as soon as possible, though experts in the Crypto space have always been telling us that we should not keep our coin on exchanges because of the tendency they have of being hacked, we still do this all of the time and we have been getting the reward for our stubbornness.

[betty11]

Some has written an article alleging a possible conspiracy theorem, which I read with some curiosity, he asked some questions how such a huge 7,000BTC could be withdrawn without a special authorization by Binance, and why the KYC of the affected accounts were not disclosed(maybe security reason), and why will a hacker just choose to withdraw $40m when he could have taken more, even that such fund to the segwit wallet is not spendable. I love binance and I trade there, and I always believe them.  You can find the link here https://cryptopotato.com/did-binance-really-get-hacked-these-conspiracies-might-prove-otherwise/

[EdenHazard]

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

Centralized exchange cannot be trusted completely, you should be careful and keep your asset safe. With the amount of exchange has been scammed by hacker I tried to move my assets on the exchange centralized slowly, yeah it will take a long time maybe for me to not use centralized exchange because I still use it as trading sometimes. However, I have a strategy that in the future that I'll safe my assets on hardware wallet because that is only one way I can  pull to one side from hacker. If I use hardware wallet I have full authority to make my assets safe or not safe so, if someday I loss it I'll blame my self.

[Bitcotalk]

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 believe that Binance will come back stronger than before. It is the leading exchange in crypto space and I think it will improve its security system and shielding power. It is good that the users will not be affected and this is something that I doubt another exchange would have said because it is a big aamount of money stolen. Anyways, it should be obvious that if an exchange like Binance could be hacked, keep no doubt, others could also be targeted.

[Thanasis]

=> 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 think it will greatly affect the price of BNB when the withdrawal on binance resumes because people might worry about keeping their funds on exchanges so they will convert into bitcoin or other cryptos then will transfer it into their wallets.

[Tomohisa]

If you have an account on Binance, you should do the following steps.
Reset 2FA by disable then turn it on again.
Change your Binance account password.
Make sure your email password is different to Binance account as well having 2FA too.

[coinplus]

As long as they are online all wallets have a chance to get hacked, so if you are going to choose an online wallet the safest I know would be blockchain.com because I haven't heard them lose any money from any hacking at all but maybe they did that I didn't hear about or maybe they will one day in the future.

Basically, use an offline wallet that would have no connection to any central location if you want super safe wallet. There are trezor and ledger nano s and so forth that basically makes sure you are securing yourself without no central data location. Otherwise all of them are still dangerous and including the biggest places there is no place that would be safe for you.

[Iykecollins]

Had expected this news to greatly impact on the price of btc but it never did. I remembered how such a similar news made the price of btc to drop hugely in 2017. Currently I think the btc market is very matured that not an attack on a single exchange can cause a huge market charge. Sorry to all those that might have been affected, I think Binance will pay back

[GodHatesFigs]

If I am not mistaken, this is the first hack of this exchange. What is very bad for the whole market, and binance you may wish to recover from the blow as soon as possible and become better.

[ethereumhunter]

I heard binance will be responsible for this case and will return the lost funds. and this is a good thing because binance shows a good commitment to solve this problem.

and I will still use binance, even though now the security is questioned.

That will be great news for the members because they don't have to worry about their balance. And if the members got a loss in their balance, I think binance will solve the problem and will return the lost funds. So far, binance give a good attitude to protect their members and they operate until now and not making the hacking news makes traders worried.

[shaheer001]

Bad news always leave bad effect so due to hack in Binance it will effect popularity as Binance is the most trustworthy and top rating exchange. This type of news will badly effect the crypto market all good exchange must make their exchanges full proof to avoid hacking.

[Wintersoldier]

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?

It's good think for me that I've already withdrawn my balance on binance just before it was being hacked but the long term effect is that, I cannot longer bring back the trust that I have on binance before and now, maybe I could try to access and trade on other platform this time. What important for me this time is the profit that I can get from the uprising bitcoin.

[Ararbermas]

If you guys worrying then leave on that exchange stop holding wherein find a safe place where you can put your money. If you own BNB token then  covert it immediately because soon it will decrease price because moslty ppl nowadays spreading awareness about the issue which surely can caused panic selling.

[SMOKEU]

there is no safer wallet than hardware wallet.. users funds are safe and it was not lock..but for this binance attack i'm in doubt    

[CAPT.DEADPOOL]

I heard about it in Crypto News that hacking binance and steal big binance exchanger so some are afraid to trade in binance but you should not be nervous because the team binance is already fixing their exchanger can not really avoid it because many hackers the smart and able to access websites with security exchangers that are strictly secure but eventually hackers get in and about stolen money there is a guy who donates 7000btc so it's just as great to marecover the losses.