As you might have noticed, Binance is down for over 24 hours now. If you have a healthy chunk of your fund there, this can be a very nerve-wrecking experience. I don't have too much on the exchange but I have some, so when I saw John McAfee's tweet about Binance being hacked, I really felt uncomfortable. Here is what the crypto-eccentric had to share.
"Not trying to spread FUD, but I have received dozens of reports like this one. I'm just trying to understand. As a security researcher, I know that potential hacks are far more easy to solve if investigated immediately"
It all started when people were unable to log into the exchange and a tweet for server issues was released. Unlike Kraken and Coinmarketcap, the Binance team is updating their accounts every 2-3 hours about the current state of the exchange. Firstly the expected time for resolving the issue was "several hours" and then it was increased to "10 hours". Well the last update is that the exchange will start trading on Feb. 9 at 4am (UTC) (11:00pm EST).
Binance Is Not Hacked
Priority for Binance team is to assure their users that the exchange is not hacked ! So far, so good. Their CEO used the power of blockchain to prove that their BTC and ETH accounts are untouched and the money is there. They also pledged to prove McAfee wrong. See the tweets below
Answering McAfee
Will the CEO of Binance prove McAfee wrong ?
Reassuring Users
Unlike CoinCheck, Binance keeps only a "tiny" percentage of all funds in hot wallets.
Verdict
I don't think Binance is hacked, even if thet are they will cover it up nicely and I think no coins will be lost. McAfee and his never ending quest to publicity is getting out of hand. Thankfully people are calm and this did not reflect toda媒s prices. I expect everything to be up and running soon ! :)
What's your thoughts on the matter ? Share with us on the comments :)
@ervinneb