Binance Has Suspended Trading to Protect User Security

binance exchange

Yesterday, on the 3rd of July, the representatives of this cryptocurrency exchange discovered unusual activity in transactions on the accounts of several users using the API. Binance suspended trading, which was the right decision in this situation.

Binance removed all existing API keys and asked all users to create their keys again for user safety purposes.

Also, the representatives of the exchange promised free trade until the 14th of July of this year to all users who suffered from unusual activity during the Syscoin trade.

Everyone who traded SYS during the incident is recommended by Binance to contact customer support.

Binance will create a Secure Asset Fund (SAFU) to protect all users in the future. Starting July 14, 2018, they will allocate 10% of all trading fees for the fund. The fund money will be kept in a separate cold wallet.

The exchange thanked the users for their support, but did not disclose details of what exactly happened.

We would like to remind you that the criminals have recently hacked the cryptocurrency exchange Bithumb and stolen $30 million.

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