Binance to Suffer Hacker Attack

Over $40M worth Bitcoins were stolen, exchange states it will use the SAFU fund to cover the incident and no user funds will be affected
08 May 2019   1151

Binance cryptocurrency exchange reported a loss of 7000 BTC ($ 40.5 million) due to a hacker attack.

According to representatives of Binance, yesterday, May 7, a “a large scale security breach today” of the marketplace was discovered.

Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet.

Binance Team

The company also stressed that hackers managed to access only the “hot” wallet, which kept about 2% of the funds. A total of 7,000 BTC were stolen.

Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.

Binance Team

#SAFU fund was created in the middle of last year, to which the exchange sends 10% of the total volume of trade commissions.

Currently, the exchange is going to conduct a comprehensive security audit, which, according to preliminary estimates, can take about a week. During this time, I / O funds will be unavailable, but trade will continue as usual.

Yesterday, May 7, shortly before the appearance of information about the attack, Binance suspended the deposit\withdrawal for all assets represented on the platform. The head of the exchange Changpeng Zhao wrote about the need for unscheduled maintenance

During the AMA session, Changphen Zhao discussed “with various parties”, including the developer of Bitcoin Core Jeremy Rubin and the founder of Bitmain Jihan Wu, the possibility of reorganizing the Bitcoin network to return 7000 BTC. This option was rejected.

DEAPCOIN IEO to be Held at OKEx on 8.04

The project is planning to raise $2M a the price of 1 DEP on IEO will be $ 0.0025
25 March 2020   954

OKEx Exchange announced Wednesday the 11th initial exchange offering (IEO). It will be conducted by the DEAPCOIN Project (DEP) and will be held on April 8th.

As in previous OKEx campaigns, the selection of participants and the selection of the allocation coefficient will be carried out according to two criteria: the average daily balance of OKB and the trading volume on the exchange. For each of the groups, allocation of 400 million DEP tokens is allocated.

The price of 1 DEP on IEO will be $ 0.0025. Thus, the project intends to attract up to $ 2 million from OKEx users. Trading in USDT and USDK pairs will start on the same day.

The DEP token was released by DEAPCOIN to shape the economy around the PlayMining entertainment platform they are developing, where users can earn cryptocurrency during games. DEP is presented as an ERC-20 standard token, while game items on the blockchain will use the ERC-721 standard.

Despite the generally negative dynamics of the IEO space recently, the token of the previous placement of the OKEx platform - HyperDAO - that passed at the end of February is currently trading almost 3 times higher than the initial selling price.