Binance re-opens doors after hack

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!