Binance Still Down, Refutes the Accusations About Hack

Cryptoexchange Binance still down, but disproves alleged hack with wallet addresses
09 February 2018   1491

Today we've already reported that one of the largest cryptocurrency exchanges Binance was down for the maintenance and should have been up and running at 2 PM (UTC). The rumors were already abundant about hack, and that the prolonged downtime was just an effort at covering up a security breach.

During all this time Binance support and CEO Changpeng Zhao tried to calm customers with updates practically every two hours. Databases don't sync instantly, and the approximate data volume is staggering, so no wonder that it takes longer then expected. But the panic was still spreading, and even the notorious John McAfee accused Binance and its CEO of trying to cover up some security breach. In his Twitter post he alluded to some “sources” which gave him information about Binance being really hacked. Of course, he said that he wasn't trying to “spread the FUD”, but in turn, Changpeng Zhao called him out on it with reply, that they will prove him wrong.

And oh, they did. Blockchain is an open ledger for a reason, and having the address everyone can check the account balance and transactions. Also, according to Zhao, the released addresses are just a hot wallets with a fraction of real holdings. At the moment of publication, their Bitcoin and Etherium wallets account for $263 million and $153 million respectfully. They even went as far as to transfer 30 000 BTC from one of their cold storage accounts to a hot one just to prove that they have on hand a lot more, than initial 2000 BTC.

All in all, Binance, while suffering heavy technical problems, still manages to keep a good face. And right now support says, that everything should be online and fully functional by 4 AM (UTC) on February 9.

Binance to Start New Fiat Exchange Beta Test

As reported, CEO of the exchange had announced the new platform at event in Singapore
17 September 2018   156

On Tuesday, September 18, Binance will launch closed beta testing of a new trading platform with support for Fiat in Singapore.

The corresponding statement of the head of Binance Changpeng Zhao made on Twitter.

I just slipped that we will begin Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days. Invitation only first. Exciting!

Changpeng Zhao

Founder, Binance

Other details of the new Binance initiative have not yet been disclosed, but it can be assumed that the new exchange will support the Singapore dollar.

As Finance Magnates clarifies, Changpeng Zhao also reported on the launch of the new platform at the blockchaain conference in Singapore, where co-founder and CEO of the Gemini exchange Tyler Winklewoss also attended.

Last week Binance signed a memorandum of understanding with the Stock Exchange of Malta, under which a platform will be launched to trade tokens with the properties of securities.