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Binance Resumes Trading Activity and Withdrawals
Binance, the leading cryptocurrency exchange that suffered a $40 mln hack is getting back on its feet. Following a week-long hiatus, the trading platform now allows deposits and withdrawals after ramping up its security measures.
Alex DovbnyaBack online
The announcement was preceded by a two-hour extension since they needed more time to fully complete the upgrade. Trading officially resumed at 13:00 UTC with withdrawals being available shortly after.
Earlier, Binance CEO Changpeng Zhao (CZ) revealed that they came up with a slew of ‘advanced security features.’ In order to mitigate future risks, Binance made significant changes that pertain to its API and 2FA.
Yuri MolchanFunds were not safu
Binance experienced a major security breach that took place on May 8. The event instilled fear in the crypto community since it proved that even such a juggernaut as Binance is not immune to hackers, which have been plaguing this industry almost since its very inception.
As reported by U.Today, the talks about a possible blockchain reorganization added fuel to the controversy.
Some surprises
The major hack left a sour taste in everyone’s mouth, so Binance is now adding some sugar by organizing a 50,000 BNB giveaway ($1.3 mln). In order to secure a piece of this cake, you have to trade at least 1 BTC until May 18.
Moreover, all VIP users will be promoted to a higher level for one week, thus reducing their maker/taker fees.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Arman Shirinyan
Dan Burgin
Vladislav Sopov