Secure Asset Fund for Users Launched by Binance

From July 14, 10% of the commissions collected by the exchange will be transferred to a separate cold wallet
04 July 2018   863

Binance created the Secure Asset Fund for Users (SAFU), which will protect the users of the site in emergency cases. The decision was made after unusual transactions with API keys. 

Starting from July 14, 10% of the commissions collected by the exchange will be transferred to a separate cold wallet.

Since founding, Binance has always upheld our core values of spreading crypto and protecting users. Binance has achieved explosive growth in the first year. With this growth, we also experience many problems. We must reflect upon these problems, learn from them, and improve ourselves. We know in the course of making history, we will be tested again and again. We believe every test makes us stronger. And only if we fight together, can we move the industry forward. We thank all of our supporters, those who nudged us forward. We welcome your comments, suggestions and feedback. Thank you for being with us on our journey.  Binance will continue to push forward.
 

Binance Team

On July 3 the site administration noticed suspicious activity, accompanied by the rapid growth of the Syscoin (SYS) token, and decided to suspend trading.

To ensure the security of users, all API keys were deactivated, and suspicious transactions were canceled.

Earlier, on July 4, Binance announced that it had decided to conduct "unscheduled maintenance" after one of the users paid 96 BTC per Syscoin token.

Binance to Go for 8 Hour Maintenance

According to the team, site will go into maintenance on Tuesday, March 12, at 02:00 UTC and 8 hours is the estimated time, which may change in the process
11 March 2019   154

Binance informed about upcoming technical works on the platform, which are expected to last about 8 hours.

According to the new entry on the stock exchange website, the stock exchange will go into maintenance on Tuesday, March 12, at 02:00 UTC.

At this time, accepting deposits, withdrawing funds and trading will be suspended, and deposits that will not be credited to users' accounts before the start of work will be received after their completion.

Also, the exchange noted that 8 hours is the estimated time, which may change in the process.