Who could be behind the Binance hack and what we know so far
In this news:
Key takeaways
- Binance suspended deposits and withdrawals as a precaution after a hack.
- The exchange plans to cover all user losses from its emergency reserve.
- Security experts warn users to watch out for phishing emails and fake support accounts.
In his earlier statement, Teng said Binance users' funds are safe and, as a precaution, all deposits and withdrawals had been temporarily suspended.
He said the firm would cover all losses from its emergency reserve set up for such situations, and make up the rest with company funds.
Binance said it had been working with partners to freeze the affected assets, with around $3bn reportedly located so far.
“We are still on track towards the expected timeline to resume the withdrawal service in 45 hours,” it said.
Security warnings for crypto users
Users from other crypto platforms have also been warned to be wary of hackers seeking to exploit the situation.
Marijus Briedis, NordVPN's chief technology officer, said people should be on the lookout for things such as “an email claiming your funds are at risk”, “a fake support account offering help” or “a message urging you to move your cryptocurrency to a 'safe' wallet”.
“Check updates through the Binance app or a website address you already trust,” he said.
“Avoid links in unsolicited messages, and never give anyone your password, verification codes or wallet recovery phrase.”
Share the article:
Trending News & Crypto World
.png)
Latest Crypto News
Top Trending Cryptocurrencies on The Market
Current Price
$0.9989
Market Cap
$1.8B 0.02%
24h Volume
$2.9M
Supplies
1.8B / ∞
Current Price
$3,893.56
Market Cap
$1.7B -2.97%
24h Volume
$121.2M
Supplies
440.6K / ∞
Current Price
$1.133
Market Cap
$1.7B -0.18%
24h Volume
-
Supplies
1.5B / ∞
Current Price
$0.9614
Market Cap
$1.6B -3.17%
24h Volume
$215.1M
Supplies
1.7B / 2.1B
Current Price
$0.06888
Market Cap
$1.6B 2.94%
24h Volume
$8.8M
Supplies
23.5B / 23.5B
Current Price
$0.05019
Market Cap
$1.6B -3.08%
24h Volume
$23.9M
Supplies
100.0B / 100.0B
Current Price
$0.4154
Market Cap
$1.6B -1.90%
24h Volume
$321.1M
Supplies
10.0B / 10.0B
Current Price
$0.9990
Market Cap
$1.6B -0.06%
24h Volume
$112.9M
Supplies
1.6B / ∞
Current Price
$0.4704
Market Cap
$1.6B -6.11%
24h Volume
$23.8M
Supplies
6.2B / 6.2B
Current Price
$2.061
Market Cap
$1.4B -8.78%
24h Volume
$18.0M
Supplies
1.0B / 1.0B
Current Price
$0.000001620
Market Cap
$1.4B -0.45%
24h Volume
$63.4M
Supplies
888.8T / 1000.0T
Current Price
$2.509
Market Cap
$1.4B -2.55%
24h Volume
$59.4M
Supplies
557.9M / ∞