Binance hack, Self inflicted or it didn't happen at all?

[jak3]

There is one of the reason we can say yes that is a reason we can say binance is actually hacked or not. Maybe just one public interest and their trust so they just acted like they got hacked maybe they got hack and the 7000 Bitcoins where stolen and as we know they are not moved from the hacker address.
But still, it can be all an act to get public trust

[SlimShadyMmp]

For me as far as they returned peoples money and everyone is safe thats whats basically needed for progress I think so lets hope that never occurs again and as for the 7k transfer thats actually very weird but it might be they got through some of their tracking system unexpectedly

[adekogbe]

The transparency of centralized exchanges is debatable and obscure. The issue with centralized exchanges however i this.
 Quite possibly's Binance could complete a self incurred or this hack doesnt truly occurred. In any case, knowing Binance notoriety, perhaps these charges could be false also.
A major crypto exchange, does they truly need to do a trick this way? Consider it. I surmise they could do it on the off chance that they are urgent to have money however they are the number 1 exchange. Despite everything I trust CZ and enemy the record hacked occasions arent made arrangements for something. Programmers are presumably getting a charge out of now their stolen assets.

[Twinkledoe]

For me as far as they returned peoples money and everyone is safe thats whats basically needed for progress I think so lets hope that never occurs again and as for the 7k transfer thats actually very weird but it might be they got through some of their tracking system unexpectedly

And also, I really don't think that it is self-inflicted at all. This incident have negative impact on their security image so there's no reason for them to do that at the expense of their reputation. But I think, it is one lesson for them. Invest their money also in tight security measures.

[pey]

Funny bullshit, if there will be a bull run, no matter how powerful such companies are, they can only delay it for a while and there must be good reason for that considering the cost.

[bartusv]

The Binance hack has happened for sure but  it could be an insider job or with a help of and insider who was aware how all the security gates work.
Hopefully, we will have some results of the investigation soon and that it will be public.

[Wintersoldier]

Why always 7000 BTC ? lol
I dont know what happen, why someone can transfer 7000 BTC in single transaction? binance limit 100 BTC withdrawal if you a verified users.

It is already said, binance told us that they have a security breached, in that case, even any amount of bitcoin can be accessed through that entry point since their security has been damaged. What good in here is that, if binance found out the track point, then they can provide now a resolution and increase their exchange's security.

[sabine80]

what strange is that it was around 7000 bitcoins each time. is this supposed to be a hidden clue that it was the same hacker every time? nevertheless, really bad, that binance has lost two times so much money. other companies would be broken with such sums of money.

[Melo20]

According to their most recent blog post, Binance are striving to maintain the highest degree of transparency, but are concerned that sharing too many security details will tip off hackers and ultimately weaken their own security. Nevertheless, I do believe it’s important for the community to understand what happened

[Caladonian]

For me as far as they returned peoples money and everyone is safe thats whats basically needed for progress I think so lets hope that never occurs again and as for the 7k transfer thats actually very weird but it might be they got through some of their tracking system unexpectedly

And also, I really don't think that it is self-inflicted at all. This incident have negative impact on their security image so there's no reason for them to do that at the expense of their reputation. But I think, it is one lesson for them. Invest their money also in tight security measures.

With how they succeed with their business I also agree that they've won't let this incidents to doubts their service, the security breach always the
target of hackers, and with this open opportunities they will grab it right away and do everything that will benefits them.

Interest of investors and traders will be eyeing with this issue, whether it's for real or not.

[shadowdio]

I don't know what really happen to Binance, is it really hack or not? I think they just want to create FUD to bring down bitcoin who knows?.

[Viceroy]

I think it doesn't matter whether it was a PR campaign from Binance or a real hack of the exchange. As a result, everything ended well, the price did not fall, all the money remained in its place.

[FlamingFingers]

I don't think the Binance hack was self inflicted,  it happens really,  what shall it profit the CEO of Binance to do such thing, and that's a big FUD if it happens to other small exchange,  despite the hack lots of people still using Binance exchange

[Iyanu14]

what will be binance benefit lying about hack which could dent binance reputation. i can't believe an exchange will lie about a very sensitive issue like this.

[bartolo]

why someone can transfer 7000 BTC in single transaction? binance limit 100 BTC withdrawal if you a verified users.

Because they didn't send the BTC from a user's account. Hackers allegedly gained access to one internal wallet of Binance and they sent the BTC skipping the exchange's restrictions.

[kurcalas]

The similarities look a bit surprising and suspicious, but why would Binance do that? Why would they want to lose the missing trading fee in this period when trade is closed?

[Lizzylove1]

The theorem is complex. Anything can happen, one thing am thankful for is that after the hack, market went up and bitcoin just got bullish, so people needed not to panic over the supposed hack.

[adzino]

I don' think the hack was "Self Infected" or it didn't take place or anything. Probably people are just trying to spread FUDS though this. Well, you got those news from the Youtube. Most of the Youtubers actually spread or wrong or misleading information just to get views for themselves! Don't blindly believe those videos. Do your own research and see what you get.

[ub27]

No one can tell for a fact if the hack actually happened. Nice post here with some citations, making it valid. But the big question is: if the hack is fake, what will Binance profit? So I still have 70% conviction that the hack occurred, since CZ knows announcing a hack will bring distrust to an extent. The delay before reopening might also be to tighten security. Only Binance team knows if the hack actually occurred, this particular hack scenario is strange.

[No Pain No blood]

I also just realized why this could happen. as far as I know binance is an exchange that has good security. strange if it can be hacked. and 7000btc but it doesn't affect the price? This isn't strange either. in the past every time there was hacking there was always a dump on the market. so if it matches what OP says. maybe this is just something planned.