Binance Exchange Guide Reveals The Truth About Recent Attempts Of Theft

March 10, 2018

On its website, the Binance Exchange disclosed information about recent theft attempts, and detailed how the stock exchange tore them up and saved the user's investment.

Recall that a few days ago, users of the crypto-currency community in various social networks and trader chats wrote messages about a possible hacking of the Binance exchange.

Due to the numerous losses on the part of the currency exchange and exchanges through cybercrime, Binance has created the status of a safe exchange.

Binance users were satisfied with the service

The company demonstrated true transparency in its operations. She released a newsletter on a recent phishing attempt that would cost users a fortune in digital currency.

"7 March, during the 2-minute period, abnormal trading activity was observed in the VIA / BTC market. Our automated risk management system was launched and all withdrawals were immediately terminated. ", – told the management of the exchange.

Hacking Binance generated rumors that it was the main reason for the drop in the value of Bitcoin and other leading crypto-currencies. The Twitter post from one of the company's leaders assured users that the security protocols of the exchange are working for all 100%.

The attack was organized as a cleverly disguised attempt at phishing.

"This was part of a large-scale attempt at phishing and theft. At the moment, all funds are safe and have not been stolen ", – said the Twitter platform management.

Recently, speaking on LinkedIn, Binance CEO Changpeng Zhao expressed his thoughts about the future of the Crypto-currency.

During the attack, the withdrawal of funds was automatically stopped by the platform's risk management system, and none of the attempts at fraudulent withdrawal was successful.

In addition, accounts related to burglary and loaded with VIA coins were frozen, and now hackers allegedly lost these stocks.

The report also said: "The hackers were well organized. They were patient enough not to take immediate action, and were waiting for the right moment. They also chose VIA, a coin with less liquidity, to maximize their own benefits. "

Thanking users for their support, the following message was made in the report:

"We again advise all traders to take special precautions to ensure the security of their accounts".

Author: Olga Novikova, Analyst Freedman Club Crypto News
Image from Fotolia

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