Mmh Binance was hacked! And that’s a problem!

Yesterday I tried to withdraw some Steem from my Binance wallet back to the steem blockchain. But Binance didn't allow this. All wallets were under maintenance, so withdrawing any funds from Binance was impossible.
Only this morning I did learn that Binance was hacked! WTF! The most trusted exchange around is even vulnarable! Let this be a lesson to all of us to keep your assets safe and safe doesn't mean on an exchange!

What is strange that if this would have happened last year, it would have reached the mainstream media, but now it doesn't! Guess it isn't important enough anymore.
Bitcoin did enter the mainstream media at the end of 2017 was the FOMO was increadible and almost each week new all time heigh records were broken. It stayed there and the media attention did increase when it was loosing value day after day! Around the mid of 2018 the mainstream did stop paying attention to the cryptocurrency market! At least it is at the same level as before the recod breaking times!

But back to the binance hack!
It is unsure weather Binance is to blame or the users! It looks like the hackers did steal the usernames, passwords and even 2FA codes. The alarm bells only went of at the Binance office was a massive amount of BTC was transferred out! We are talking here about a transaction of around 7K Bitcoins.

While this is again negative press (if it did reach the mainstream media) there is also some positive news. Binance was prepared for something like this and since mid 2018 they did create a SAFU funds.
Secure asset fund for users! 10% of all transaction fees were deposited into this fund. The idea behind is and was that if a security breach did happen, that they would have funds to cover the losses of the their customers! It is good to see that they do have counter messurements to keep the impact as small as possible!

Trading is still open at Binance but withdrawals are impossible. I am curious how the market will react when it is possible again to withdraw funds from Binance. And what will happen with the value of the Binance Coin.
It is expected that the withdrawals will be suspended at least for another week! That is a bummer for me and lot's of others! Guess I will have to wait some time with uploading fresh steem!
So, if you want to withdraw funds from Steem to an exchange, Binance is not the best possible option!

Also what is good to notice is that in constrast with other exchange hacks, it didn't had much of an impact on the value of Bitcoin!
The value of BTC is still up compared with the start of the year when the value of BTC was $3600, at the moment the value is around $5900, probably breaking the 6K at the end of the day!

You can read the Binance statement here:
https://www.binance.com/en/support/articles/360028031711

Cheers,
Peter