Binance Was Hacked. 7000 Bitcoins Or About $40M Was Stolen.

In a breaking news today, Binance admitted that its system was hacked and that 7000 Bitcoins were stolenfrom the exchnage. Changpeng Zhao, Binance CEO, will hold AMA (Ask Me Anything) session in Twitter in the coming hours to remain transparent on the situtaion.

The good thing is that Binance is protected by SAFU or Secure Asset Fund for Users. Which means that Binance will use the SAFU fund to cover this incident in full. No user funds will be affected.

The said theft affected about 2% of Binance's Bitcoin holdings. All deposits and withdrawals will be suspended at the moment by live trading will continue.

For more of the news, please read:

https://techcrunch.com/2019/05/07/binance-breach/

https://www.yahoo.com/news/hackers-steal-7-000-btc-002718695.html

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