Binance, the no.1 crypto exchange in the world by trading volume has [been recently hacked](https://www.newsbtc.com/2019/05/07/breaking-binance-hot-wallets-lose-7000-bitcoin-btc-in-large-scale-security-breach/). The loss is of 7000 BTC worth around $40 million at the current price. According to Changpen Zhao, the CEO of Binance: >βThe hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed our existing security checks.β  [image source](https://pixabay.com/photos/padlock-locked-old-close-hack-428549/) However big names like Tron's Justin Sun offered to transfer $40 million worth of BTC to Binance to...somehow help. The offer was declined by CZ and he also thanked Coinbase and other crypto exchanges that offered support by blocking any transfer from the suspected addresses. Security is not yet to be called perfect in the crypto world but we can say we sense the community feeling in such cases. *Funds are Safu* thus Binance will use the Safu Funds to "put back" the 7000 BTC that had been lost in the hack. From what I've read on twitter that fund is "made of BNB" bricks so we might get some BNB at discounts if Binance will have to sell BNB for BTC and break down some walls while BTC might pass the $6,000 mark once they start buying Bitcoin. Lesson of the day: even the most safe in the world is not safe in crypto and seems like whatever happens BTC wins. Sorry Binance for your loss but it was expected after all your self applause. As you said it, they worked in silence. **Thanks for attention and have a great day!** **Adrian**
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| author | acesontop | ||||||
| permlink | 7000-btc-hacked-out-of-binance-s-hot-wallets-funds-are-safu-92d254edb49ae | ||||||
| category | crypto | ||||||
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Thanks for using **eSteem**! <br>Your post has been voted as a part of [eSteem encouragement program](https://steemit.com/esteem/@good-karma/encouragement-program-continues-82eafcd10a299). Keep up the good work! Install [Android](https://play.google.com/store/apps/details?id=app.esteem.mobile), [iOS](https://itunes.apple.com/WebObjects/MZStore.woa/wa/viewSoftware?id=1451896376&mt=8) Mobile app or [Windows, Mac, Linux](https://github.com/esteemapp/esteem-surfer/releases) Surfer app, if you haven't already!<br>Learn more: https://esteem.app <br>Join our discord: https://discord.gg/8eHupPq
| post_id | 74,365,782 |
|---|---|
| author | esteemapp |
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Thanks
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| author | acesontop | ||||||
| permlink | re-esteemapp-201958t10117529z | ||||||
| category | crypto | ||||||
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