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Binance: trading is suspended for 2 hours – -/withdrawals are possible again – Coin Hero

b0b661bb2b90b5dd2d7395bf3f75810c - Binance: trading is suspended for 2 hours - -/withdrawals are possible again - Coin Hero

Binance: trading is suspended for 2 hours – -/withdrawals are then possible again

Home News Binance: trade for 2 hours – A-/withdrawals are then possible again

Of
Marcel Knobloch –
14.05.2019

The leading and popular cryptocurrency exchange Binance was last week, as we know, the victim of a hacker attack in which 7,000 of Bitcoin (BTC) were stolen. In order to increase the security of the stock exchange, has Binance now announced

After an extensive analysis of Binance has confirmed that no additional monies were stolen, and that first reports are that 7,000 to Bitcoin (BTC) are lost, are correct. Of the 40.5 million Dollar Hack forced Binance, withdrawals and deposits to clear. The Team worked the past few days, in order to ensure that the System is ready for use again, and now plans to stop the withdrawals and deposits starting today, the 14. May, resume.

In yesterday’s announcement (Update #3) it was said:

We have made some major Overhauls to our System, where a large number of advanced safety functions added and/or completely revised. […] We intend that payments and withdrawals on Tuesday and again to fully absorb. The date will be communicated at a later date, depending on how the test runs. This Upgrade requires that you stop a Trade. We will inform you tomorrow again.

The Upgrades can be fully implemented, needs to be exposed to the trade, however, for two hours.

Binance CEO, Changpeng “CZ” Zhao also says that the Team has made several Changes to the main method.

We make significant Changes to the areas of API, 2FA and payout validation, which were used by hackers during this incident. […] We are improving our risk management, the analysis of user behavior and the KYC. We are working on more innovative methods to combat Phishing. We also have a number of additional security measures, which are not directly on the Frontend visible.

The exchange will also integrate new Hardware devices to improve the safety.

We will soon add Hardware device support, such as YubiKey, and other devices. We will perform an event and 1,000 YubiKeys are awarded when this feature is implemented.

In addition, it was mentioned that the users after the Upgrade, a 30-minute window is provided, in which you can cancel orders, withdrawals and deposits, and all other account can use the services before trading on the exchange is resumed. Via Twitter CZ said thank you again for the patience of the users of Binance:

Featured Image: Grey82 | Shutterstock

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