One of the biggest cryptocurrency exchanges in the world, Binance, was hacked. The CEO of the exchange, Changpeng Zhao, shared this sad news in Twitter on yesterday’s night reporting a major security breach resulted in monetary losses and a leak of information.
Not the best of days, but we will stay transparent. Thank you for your support!https://t.co/Y1CQOatEpi
— CZ Binance (@cz_binance) May 7, 2019
Hackers’ Techniques And Exchange’s Loss
According to the post written on Binance’s website, hackers used different techniques to get inside Binance system. They include “phishing, viruses and other attacks”, though the company is still examining other possible methods. As a result, the criminals stole $41 million or 7,000 BTC. Moreover, the criminals obtained a large number of user API keys, 2FA codes, and potentially other info.
The company stated that the hackers’ attack would not affect the users’ fund, they would use security asset funds to cover the loss. Changpeng Zhao also said during a live stream on Twitter that the company isn’t short on funds, thus, he encouraged the people who were willing to donate to make donations instead to Binance Charity.
Questions About Binance Chain
During that same live stream, Changpeng Zhao turned the conversation into more general discussion, so users took the chance and asked about work on a number of fiat on-ramps and Binance Chain. The CEO said that smart contracts are not a priority for the recently released Chain, citing:
“We have not, to be honest, thought too much about the governance model of Binance Chain.”
Changpeng Zhao stated that the projects which are currently on Binance Chain have more chances to be listed on Binance. It means that the company will support such projects even if the world does not have any significant interest in it.
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