Binance Still Down, Refutes the Accusations About Hack

Cryptoexchange Binance still down, but disproves alleged hack with wallet addresses
09 February 2018   1854

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 DEX to Launch Public Test

Community's feedback will help determine the date of the official launch of the new decentralized platform
20 February 2019   97

The largest daily trading volume, Binance cryptocurrency exchange, has launched a public testing of a decentralized trading platform based on its own blockchain

So, users can already create wallets and interact with the Binance DEX interface. At the same time, the exchange introduced the block explorer for Binance Chain.

It is noteworthy that traders in the Binance Chain network can act as nodes and independently store private keys.

Trust Wallet and Ledger hardware wallets have been added to Binance DEX.

Representatives of the exchange said that the feedback from the community will help determine the date of the official launch of the decentralized platform.