Binance Claims Hackers Lost Money te Stealing Attempt; ONT Trading to Start Soon

Binance Claims Hackers Lost Money in Stealing Attempt; ONT Trading to Begin Soon

While hacking rumors at the fattest crypto exchange by trading volume, Binance, led to scare ter the community, an official statement claims that all funds are safe and the hackers are the ones losing money this time.

Yesterday afternoon, the VIA/BTC market on Binance experienced abnormal trading activity, causing a major pump te Viacoin&rsquo,s price, following which withdrawals on the exchange were suspended.

What exactly happened on Binance yesterday?

It shows up that hackers had managed to accumulate user accounts overheen the past two months via phishing attacks (where fake websites are made to look like real ones and steal account informatie from legitimate users) and generated trading API keys for all compromised accounts.

The hackers patiently sat on thesis details until yesterday, when they launched a coordinated attack. Very first they choose the VIA/BTC market due to its low volume and then set up large sell orders at high prices. Then they executed trades on victims&rsquo, accounts, selling their alts for BTC and then buying VIA at high prices (while they sold their own VIA coins at the other end).

Ultimately, the hackers, now te possession of the stolen BTC, attempted to withdraw it, but by then Binance had suspended withdrawals.

Trades reversed, hackers lose money

After investigation, Binance has pinpointed 31 accounts which seemingly belong to the hackers, and all abnormal trades executed ter the VIA/BTC market are going to be reversed.

Moreover, since all withdrawals were suspended at the time, the hackers&rsquo, original Viacoins were also withheld, and according to the CEO, they will be donated to charity.

Binance has reversed all irregular trades. All deposit, trading and withdrawal are resumed. will write a more detailed account of what happened shortly. Interestingly, the hackers lost coins during this attempt. Wij will donate this to Binance Charity.

&mdash, CZ (not providing crypto away) (@cz_binance) March 7, 2018

Binance lists ONT

Additionally, Binance, which supported the latest ONT airdrop for NEO holders, has now listed ONT/BNB, ONT/BTC and ONT/ETH pairs, permitting users to deposit their ONT and embark trading.

Even however Binance is permanently under a lotsbestemming of scrutiny and pressure on account of being the top exchange, it has managed to tegenstoot criticism with translucent communication.

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