Binance re-opens doors after hack
Related to: https://blogs.airdropalert.com/what-is-binance/
Published On : 2019-05-14 09:14:04
On May 7th, One of the largest exchanges in the world was hacked and over 7000 btc were stolen.
In response, Binance froze all trading and withdrawals for a week.
On May 10th, CEO Changpeng Zhao stated that they are planning to resume deposits and withdrawals early this week after they fixed the security breach.
Today the Maltese exchange announced a system update that will take approximately 6-8 hours. After that Binance will re-open its doors after the $40 million in stolen funds.
The bull-run of the past weekend comes as an extra surprise, as Binance is responsible for approximately 40% of btc trading. What did cause the market to go up? If you have any idea, theories or suspicions on the rise of crypto prices leave a comment below!