As you might have noticed, Binance is down for over 24 hours now. If you have a healthy chunk of your fund there, this can be a very nerve-wrecking experience. I don't have too much on the exchange but I have some, so when I saw John McAfee's tweet about Binance being hacked, I really felt uncomfortable. Here is what the crypto-eccentric had to share.
"Not trying to spread FUD, but I have received dozens of reports like this one. I'm just trying to understand. As a security researcher, I know that potential hacks are far more easy to solve if investigated immediately"
It all started when people were unable to log into the exchange and a tweet for server issues was released. Unlike Kraken and Coinmarketcap, the Binance team is updating their accounts every 2-3 hours about the current state of the exchange. Firstly the expected time for resolving the issue was "several hours" and then it was increased to "10 hours". Well the last update is that the exchange will start trading on Feb. 9 at 4am (UTC) (11:00pm EST).
Binance Is Not Hacked
Priority for Binance team is to assure their users that the exchange is not hacked ! So far, so good. Their CEO used the power of blockchain to prove that their BTC and ETH accounts are untouched and the money is there. They also pledged to prove McAfee wrong. See the tweets below
Answering McAfee
Will the CEO of Binance prove McAfee wrong ?
Reassuring Users
Unlike CoinCheck, Binance keeps only a "tiny" percentage of all funds in hot wallets.
Verdict
I don't think Binance is hacked, even if thet are they will cover it up nicely and I think no coins will be lost. McAfee and his never ending quest to publicity is getting out of hand. Thankfully people are calm and this did not reflect todaýs prices. I expect everything to be up and running soon ! :)
What's your thoughts on the matter ? Share with us on the comments :)
I do not believe that binance was hacked, but I wouldn't worry even if they did get hacked. Binance is such a great exchange that they would refund any stolen coins. They can afford to do this because they make a lot of money and will continue to do so because they are such an excellent exchange.
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Totally agree with you. As I said in the article, this is only FUD from mcafee, i think everyrhing is OK
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Up vote for the grabby title although I don't like it.
That is definitely FUD. There is nothing to say it was down because of a hack other than him stating that.
IF he wasn't trying to spread FUD, he would reach out to them directly, in private, instead he does the exact opposite and makes it as public as possible. That is NOT how it works in the security field. Things like to be kept quiet, even within the organization just for the sake of security.
Basically, no reason to make it public unless you wanted to be big and bold and make a statement.
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Thanks for the upvote, but why don't you like the title - I think it really tells what content you might expect from the article.
I really don't like McAfee as a person and "investor". This guy is just spreading FUD all the time, pretending to be a "bitcoin"advocate. Obviously I think Binance was not hacked at all.
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Rule of thumb, If you don't plan on trading a coin for a while, transfer it to your wallet. It is just not safe to keep it in any exchange. Best of luck!
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Sure. Thanks for the advice, I will upvote you with 100% so everyone can see your advice :)
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Thank you. All of the major banks and corporations and elites are against us. They want crypto to crash so bad so they can continue their power over us. With Crypto we have a wonderful decentralized currency and Blockchain system that gives us the freedom of controlling our own currency without a middle man who is more of a bully towards us.. Stick together and we will all be happy in the near future.
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Well, to be honest there are many prominent supporters of blockchain. But in general we are under attack:)
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Don't keep a lot of money on exchanges. That being said I do have trust in Binance and think that it's all going to be ok.
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Yes, we all have trust in Binance. I still can't login though.
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Have you tried using the phone app?
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It works on the phone app, I cant login to the site though. Thanks for sharing.
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At this point, I am not convinced Binance was hacked, as they are in a good position to make more money in the long term, than to exit scam today. Time will tell though.
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Well the hack wouldn't be an exit scam, rather a legitimate ex-filtration of data. Whether that be by physical or cyber means from a malicious individual.
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I think it all be fine in few hours. Thanks for commenting :)
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Good point. I think it's an inadvertent technical issue that caused the outage.
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Disclaimer: I am just a bot trying to be helpful.
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You got a 6.62% upvote from @buildawhale courtesy of @ervinneb!
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https://twitter.com/JSaneOfficial/status/961783587254173696
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@cz_binance VS @officialmcafee
Where would you put your Crypto?… twitter.com/i/web/status/9…
Disclaimer: I am just a bot trying to be helpful.
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Let it be because i have no dealing with Binanace yet. Say some point about steemit securities. what kind of security system followed by steem blockchain? Is it would be very safe ours fund? upvoted and resteemed.
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Let's not be. A lot of people, especially steemians have funds on the exchange. I will try and write an article for steemit security :)
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That's good, i am expecting eagerly.
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