Digital Currency Revolution Series: Can Binance really lose $40Mln in 7k Bitcoin hacking? What does the CEO say about it?

Binance, one of the leading cryptocurrency exchanges in the world, has unfortunately been in the news of hacking of bitcoins. Mr. Changpeng Zhao, the Binance CEO, twitted earlier to address the clients and the entire crypto-universe about the 7000 Bitcoin hack. However, they have promised to make investors whole.

Binance moted that hackers employed a wide range of tactics like phishing and viruses to obtain a large number of 2FA codes and API keys in addition to other credentials. There was one affected transaction, through which hackers have accessed to withdraw 7,000 bitcoins (BTC) from the hot wallet, approximately worth $40,705,000.

Well, Changpeng Zhao stated to safeguard from the potential threats, hence, the deposits and withdrawals are expected to be suspended for a week. Furthermore, he also advised the clients to append security checks to their accounts. The update insists that all other wallets are secure and unharmed.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards 149 levels (which is highly bullish), USD is at -17 (mildly bearish), while articulating (at 10:58 GMT). 

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