Thu. Apr 2nd, 2020

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Unconfirmed: Binance hacked- 20,000 Bitcoin lost!

2 min read

Barely less than a month after a major concern on Binance, the hack may now have happened. The largest exchange cryptocurrency becomes the latest victim of the cyber-attack; hacking.

The exchange is has been down once in the last month. The last time the exchange was hacked was about two years in 2018. At the time hackers managed to get away with Millions in the worth of bitcoins.

Even though the exchange was not as huge as it’s the hack affected a great deal the prices and the whole digital asset community.

The hack could be the largest hack in history with millions worth of digital currency at risk. The hack is said to have scoop 20,000BTC an equivalent of over $185M worth of bitcoin.

As of how true the reports are, no solid evidence has been collected. There are complaints though from alleged users of the exchange with claims of missing BTC.

Binance server is still online. The exchange has the highest trading volume in the market. If the hack turned out to be true, the effect on the crypto market would be a major blow

This year alone there been reported three major scams and hacking scooping huge Chunk. OKex, BitFinex and FCoin users are the major victims this year so far.

The last time Binance was hacked it took 5 days for the platform to officially announce the hack through the CEO. This was about two years ago when this happened.  

Controvacicial comment on ‘Binance hacked’

Larry Cermak has commented against Binance hacked allegations saying

“This guy is spreading fake staff again to cause panic. Block him while you are at it …” Binance has already blocked the Billy on twitter.

Larry also commented again on the same on twitter saying:

“He posted the same thing about Bitstamp in January”

True to his comment the exchange, Bitstamp, wasnt hacked. How true the comments are this time will tell.

The allegations are still unconfirmed and nothing from the Binance team has shared any comments to indicate they have been hacked.

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Cryptomute | 2020