Binance has been hacked

[kingstep]

Let me just believe that no one is doing that cause I'll be so disappointed that after several exchanges got hacked people still use Binance to receive payment, like what would even give them the mind to trust the exchange?

There is a clear difference between people using Binance in storing their asset for the long term and them using it in receiving signature campaign payment. OP was only referring to the latter because those using it just for accepting payment will find it impossible to move their asset out of the exchange since withdrawal has been temporary disabled.

Almost all the major crypto exchange we know have been hacked and it tells us how vulnerable this crypto space has become as AI and more sophisticated means of penetrating these exchange gains ground. just checked out binance and everything is on the red. such a hard time to be a crypto enthusiast.

[Hyphen(-)]

Thanks for the heads up!

I hate reading crypto vulnerabilities these days, as they are too much and it's becoming annoying. More than $6B crypto worth has been reportedly affected. However, Binance is a big exchange, so this will pass. They indicated they would restore withdrawal within 48 hours. Let's see if they would be true to their words.

This news of crypto hacks here are is becoming annoying, this can discourage new users from joins the crypto community.

We were always looking for reputable platforms to use always when we are about to use exchanges or to find a wallet to save our investment; now the reputable platforms are the target. We had of COLDCARD, Ledger which are decentralized hared ware wallet that we trust, they got compromised, its not been long when people were saying that the decentralized wallets are not to be trusted like we used to, and now reputable exchanges are also been attacked.

What else can they say now? I think this is another reason to stick to decentralized wallets, not hard ware wallets because I know it is not all of us that can afford them, we can just be using our digital decentralized wallets like electrum, bluewallet, and others so that we can control our assets by ourselves because now Binance is not allowing withdrawals, everyone have to wait for them, which cannot happen in decentralized wallet.

[BitBakerr1]

What is really going on?
The attack on crypto platforms are getting worse every day and it looks like this crypto platforms cannot secure themselves very well, because it looks like no matter how they try these hackers will find a way to attack them and succeed.
I think there’s a secret that this hackers have discovered that this platforms have not discovered yet and the secret is what this hackers are using to penetrate this platforms.

I really feel sad for Binance this money that this hackers stole from them is a huge amount of money and it will be very difficult for them to recover from this attack. I know that Binance is actually very rich, but this attack is a very big attack. The money stolen is not a small amount of money. I wish they would recover and come back because right now they have stopped withdrawal and some other operation.

[osasshem]

I saw this news pop up from my notification bar and I immediately came to check if this is true, after going to Binance X handle, and saw all the news updates.
This is a big shock, if Binance amongst these exchanges that has been hacked is seen on the list. Binance official X says they have set aside funds to cover this list, but seeing this hack at all makes it unconducive for we to still have trust with what is called security, as every single flop is a risk of losing something this huge.

What can we call security anymore?

[Luzin]

I saw this news pop up from my notification bar and I immediately came to check if this is true, after going to Binance X handle, and saw all the news updates.
This is a big shock, if Binance amongst these exchanges that has been hacked is seen on the list. Binance official X says they have set aside funds to cover this list, but seeing this hack at all makes it unconducive for we to still have trust with what is called security, as every single flop is a risk of losing something this huge.

What can we call security anymore?

I once read that Binance has a Proof of Reserves that guarantees user funds at a 1:1 ratio, and they also have a SAFU system in case unexpected situations like this happen. They currently have reserves of around US$1 billion to US$1.27 billion. I’m not exactly sure, but they’ve tried to provide some security guarantees for our assets, though I don’t know if it’s real or fake. CZ, as one of the shareholders, also argued that they’re ready to compensate if any member losses actually occur. Let’s wait and see if this is true, it would be really great for Binance’s credibility.

[Coyster]

What can we call security anymore?

I am not sure what you mean by this question. It has never been secure to leave your funds in a centralized exchange. Though after the incident with Coldcard, Ledger and other non-custodial wallets, a lot of people are also worried about being their own bank, as much as they are about custodial storage and i understand why.

I'm surprise that bitget, bybit and binnance have all been hacked in just a year.  This doesn't speak good of these exchanges because it seem their security systems are weak and repeatedly vulnerable to hack.

I wouldn't say that their system is generally weak, if it was that weak, scammers would run them to the ground. The problem is that they hodl huge funds, so they remain a target all year round, and so any flaw/vulnerability would be quickly exploited. Of course they can do more, to ensure they don't get compromised and suffer a massive breach, but i would not say the system is flat out weak.

[cxtreenal]

Large outflows amounting to possibly $2b had been noticed from Binance hot wallets and they've temporarily suspended withdrawals.
Read more Here

I'm making this post to alert those that use it in receiving signature payments, especially as Rainbet payment is expected anytime soon. You can reach out to your managers and tell him to hold or provide a new wallet address. We don't know for how long withdrawals would be disabled.

I know most people depend on this payment, you'll have to act fast before it's credited to Binance

This popular exchange has temporarily suspended customer withdrawals and deposits. This is certainly a serious matter, especially since Binance is one of the exchanges we trust the most.

Such news should make us rethink the security of crypto assets. From the forum discussion, I was careful not to keep my crypto assets on the exchange from the beginning of my investment.

Binance founder Changpeng Zhao said that customer funds are safe, and all losses will be covered using the company's reserves.

For ordinary users, the Binance hacking incident is a cause for concern and it would be better not to keep reserves on crypto assets exchanges.

Source- https://investinglive.com/cryptocurrency/binance-halts-deposits-and-withdrawals-pledges-to-cover-all-losses-from-suspected-hack/

[Yablee0]

Large outflows amounting to possibly $2b had been noticed from Binance hot wallets and they've temporarily suspended withdrawals.
Read more Here

I'm making this post to alert those that use it in receiving signature payments, especially as Rainbet payment is expected anytime soon. You can reach out to your managers and tell him to hold or provide a new wallet address. We don't know for how long withdrawals would be disabled.

I know most people depend on this payment, you'll have to act fast before it's credited to Binance

Nice update brother, thanks for your effort.  Let those that have dealings with binance exchange shouldn't hesitate to take off their funds before they will start hearing stories that touch. However, I really don't know what is going on this day's, because the rate of hacks been recorded is something that is raising so much concern and need urgent attention. Today is binance tomorrow can be another. Why is nobody coming up with a lasting solution to this saga?

 And before I go, I learnt people are still having their coin on an exchange. Well, I don't think their is any kids amoung us. Maybe bitter experience will teach those stubborn dudes in a more hard way.

[Homemade-IQ]

Large outflows amounting to possibly $2b had been noticed from Binance hot wallets and they've temporarily suspended withdrawals.
Read more Here

I'm making this post to alert those that use it in receiving signature payments, especially as Rainbet payment is expected anytime soon. You can reach out to your managers and tell him to hold or provide a new wallet address. We don't know for how long withdrawals would be disabled.

I know most people depend on this payment, you'll have to act fast before it's credited to Binance

All this hacking wey dey happen up and down na enough lesson for those stubborn people wey dy store their Bitcoin inside exchange, because this matter of storing out crypto asset inside exchange na something wey we dy talk about every day, so as big as binance be, them hack am and steal 2 billion dollars, that one suppose make this stubborn people reason say keeping money there no dy safe. So e don reach when we suppose take this matter very serious because e too dangerous, and even more risky than wetin we  think.

[ZeroVinsonN]

Binance is a big fish in the industry and this isn't the first time they are being attacked and I hope they recover quickly from this one too, over the years binance has managed to build a good reputation for themselves and I have been using it too so I'm not going to badmouth them now because being hacked was inevitable but I hope it ends well for everyone using binance, let's not panic until we see an official message from binance and even CZ said that users funds are safe and I'm counting on that.

I've always said no one wants to be hacked and if they could prevent it from happening then they would have done so but not many people think this way and they are quick to start blaming the hack victim, but 'until e happen to you, advice go full your mouth' is real.
Binance will recover from this, na only time e go take and if anybody get funds for there make them just exercise small patience while binance they pull themselves together, $2 billion no be small money sha so I dey have make them fit also track and catch the hackers, though e go hard but hopefully sha.

[Chibit01]

I saw this news pop up from my notification bar and I immediately came to check if this is true, after going to Binance X handle, and saw all the news updates.
This is a big shock, if Binance amongst these exchanges that has been hacked is seen on the list. Binance official X says they have set aside funds to cover this list, but seeing this hack at all makes it unconducive for we to still have trust with what is called security, as every single flop is a risk of losing something this huge.

What can we call security anymore?

I once read that Binance has a Proof of Reserves that guarantees user funds at a 1:1 ratio, and they also have a SAFU system in case unexpected situations like this happen. They currently have reserves of around US$1 billion to US$1.27 billion. I’m not exactly sure, but they’ve tried to provide some security guarantees for our assets, though I don’t know if it’s real or fake. CZ, as one of the shareholders, also argued that they’re ready to compensate if any member losses actually occur. Let’s wait and see if this is true, it would be really great for Binance’s credibility.

It's not just news. There are some publicly available address which holds those funds they regard as SAFU. It's nothing near the stolen amount, but from the money they have been making from trading, they still have enough to pay back, and most of the stolen funds have also been frozen by tether and circle if released back to them there is enough to keep the exchange running.

[Salahmu]

This is no joke because the first thing I did as soon as I read this was to go check my Binance account and also check for the withdrawal option and boom it's no jokes as the withdrawal option is already disabled.
For binance which is an OG in the industry to be hacked is another sign that, nobody is bigger than scam and I want to say thank you op for this prompt I formation and I have to take urgent precautions against it.

Of course know matter how strong we see any exchange it will never be beyond hacking and this is making it more than twice the exchange got hacked so definitely if binance could repeatedly got this hits people should understand the risk of holding in an exchange. Although as for the withdrawal they suspended it doesn't mean that it will remain permanent but perhaps they suspended it in other for them to take their time and fixed everything before they would start allowing people to withdraw their funds, is very unfortunate to loss this amount, and is like this is the highest binance have lost so far from being hacked.

[Zackz5000]

I'm surprise that bitget, bybit and binnance have all been hacked in just a year.  This doesn't speak good of these exchanges because it seem their security systems are weak and repeatedly vulnerable to hack.

Binnance is the biggest exchange among them, so I expected it to be more secured but it seems they're just a big name and not what I thought they truly were, they aren't as secure as their reputation speaks.  Centralised exchanges are a death trap, so we should all avoid holding our coins on them because it has been shown that they are not reliable in terms of security.

I suspect that the hackers are among the inner body, binance na big exchange their security network supposed dey strong so any body way no dey work with binance no fit know the key to take hack the exchange. This will teach them more to strengthen more their security to avoid any hack in the future, I was surprised when I couldn't make withdraw today, I was never expecting any hack from binance because of there reputation and the name they have kept i just hope this will not affect my asset i have in there.

[Promocodeudo]

I just confirmed the new, CZ said "it looks like" Binance has been hacked what a funny man. I wonder if he was ashamed of saying they've been hacked. That aside why would people store their Bitcoins with exchanges after knowing how vulnerable they've been to hackers this year.

Let me just believe that no one is doing that cause I'll be so disappointed that after several exchanges got hacked people still use Binance to receive payment, like what would even give them the mind to trust the exchange?

That's a shit statement coming from CZ, it means exchanges are shit, I  got upset when he made such statement, I believe something would've have been  done to prevent this from happening, cause recently many exchanges has faced same thing and as big as Binance is, I personally I didn't expect such level of vulnerability from them, although I didn't forget that Binance is exchange and anything is possible, as for people that are holding in binance, I think those in this forum knows what is at stake when they decide to hodl in exchange, however, I don't think there's anything wrong with receiving payment from binance before this time, but for hodling, that's a no no for me.

[Big Dirams]

I'm surprise that bitget, bybit and binnance have all been hacked in just a year.  This doesn't speak good of these exchanges because it seem their security systems are weak and repeatedly vulnerable to hack.

Binnance is the biggest exchange among them, so I expected it to be more secured but it seems they're just a big name and not what I thought they truly were, they aren't as secure as their reputation speaks.  Centralised exchanges are a death trap, so we should all avoid holding our coins on them because it has been shown that they are not reliable in terms of security.

I suspect that the hackers are among the inner body, binance na big exchange their security network supposed dey strong so any body way no dey work with binance no fit know the key to take hack the exchange. This will teach them more to strengthen more their security to avoid any hack in the future, I was surprised when I couldn't make withdraw today, I was never expecting any hack from binance because of there reputation and the name they have kept i just hope this will not affect my asset i have in there.

Actually you do have a good point that the hackers might be a inner body among the them, Binance is a reputable company with great popularity but still that doesn’t concern the hackers even a bit for they just look for a way in and take what they need and either a company is reputable or not that doesn’t mean they can’t be hacked or compromised.
But a reputable company like Binance should have been careful and very tight with their security protocols, if they won’t turn blind eyes then they should have known that a lot of hackers would be targeting them and just a little space they could just take the lead. Many companies would learn from this and make improvements and honestly the hacking is getting worse each day about this exchanges. Are we even safe with our tokens? 

[Marykeller]

It's no longer funny, given the level of hacking crypto exchanges have faced this year, not to mention in previous years.

It has become every few months that we learn of terrible things happening in the crypto space. That doesn't mean that the ones that have happened in the past will be the last; it's no way the last; there are more to come. And no platform or crypto exchange knows what will come before them at any time of the day.

I pray it gets better, and all the platforms and exchanges tighten their security network 24/7 because these hackers won't stop attacking crypto exchanges

[Btcdeybodi]

Water don dey pass garri o. Already i know say na binance be the next target because after BYBIT suffered hack followed by Bitget, it became clear that popular exchanges were the targets. These are major exchanges with millions of users. Anyhow e be i no too dey bothered because I no dey even keep coin for exchanges, as soon as I receive crypto for my exchange wallet I dey move am out immediately. E come be like say bank better pass exchanges o because with the way this hacks dey go e no funny again o. Make una no dey keep coins for exchanges, i no say some stubborn ear no go still hear.

[SmartCharpa]

Large outflows amounting to possibly $2b had been noticed from Binance hot wallets and they've temporarily suspended withdrawals.
Read more Here

I'm making this post to alert those that use it in receiving signature payments, especially as Rainbet payment is expected anytime soon. You can reach out to your managers and tell him to hold or provide a new wallet address. We don't know for how long withdrawals would be disabled.

I know most people depend on this payment, you'll have to act fast before it's credited to Binance

This is a terrible news for the Binance users. I don’t think we should panic yet, especially those expecting their signature payment. Other exchange are getting hacked, now it is Binance. Perhaps those who received their payment after the incident will not be affected.

Sometimes this is an advantage of using a decentralized wallet, at this point when everyone is panic and moving their funds from Binance to other exchanges to keep their money safe, you won’t have to panic over any thing.

I hope those who lost their funds during this incident will recover their funds soon.

[osasshem]

I saw this news pop up from my notification bar and I immediately came to check if this is true, after going to Binance X handle, and saw all the news updates.
This is a big shock, if Binance amongst these exchanges that has been hacked is seen on the list. Binance official X says they have set aside funds to cover this list, but seeing this hack at all makes it unconducive for we to still have trust with what is called security, as every single flop is a risk of losing something this huge.

What can we call security anymore?

I once read that Binance has a Proof of Reserves that guarantees user funds at a 1:1 ratio, and they also have a SAFU system in case unexpected situations like this happen. They currently have reserves of around US$1 billion to US$1.27 billion. I’m not exactly sure, but they’ve tried to provide some security guarantees for our assets, though I don’t know if it’s real or fake. CZ, as one of the shareholders, also argued that they’re ready to compensate if any member losses actually occur. Let’s wait and see if this is true, it would be really great for Binance’s credibility.

It's not just news. There are some publicly available address which holds those funds they regard as SAFU. It's nothing near the stolen amount, but from the money they have been making from trading, they still have enough to pay back, and most of the stolen funds have also been frozen by tether and circle if released back to them there is enough to keep the exchange running.

I am sure this is correct, because there was no sign of fear or flinching in this whole event by CZ. He still assures the Binance users that their funds are safe and any losses will be compensated. The funds in SAFU, profits made from trading all these years and other funds that are possibly set aside for backup incase of situations like this occurs will have to be put into use now.
If Binance can put this right for its users, then it's trust will be more firm for its users.

As a big exchange with large amount of funds running within it caused attraction for this hack.

[PostQuantumBTC]

Binance is not having P2P for people in Nigeria, people living in the countries that Binance provide P2P for are able to exchange their coins to their fiat.

I hope withdrawal is restored fully later.

But I am not keeping any cryptocurrencies on exchanges. It is called exchanges, to exchange cryptocurrencies and not a wallet.