Binance sets Hacker Bounty at $250,000 USD

On 7 March 2018, users on the Binance cryptocurrency exchange noticed irregular behavior.     Binance was alerted and managed to reverse the transactions, however, it is vital they understand just how hackers could have sidestepped their security and also, the Binance Two-Factor authentication system.  See more Reddit comments here     In response to the hack, Binace issued the following statement”   “To ensure a safe crypto community, we can’t simply play defense. We need to actively prevent any instances of hacking before they occur, as well as follow through…

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Bitcoin in freefall after Binance hack

Bitcoin prices plunged today on speculation that major crypto exchange Binance has been hacked.     The exchange has denied being attacked but several users reported that their altcoin holdings were liquidated unexpectedly and without consent. There is speculation that Binance’s trading bot was at the heart of the issue, while others believe hackers may have orchestrated an attack on the Bitcoin exchange… Binance has halted trading and withdrawals. Full Story: – HACKED     Exchange hacks have plagued Bitcoin since inception, remember the Mt. Gox hack?   This constant…

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Chaos and Confusion as Binance goes down and suspends withdrawals

  Various news sites, including the Financial Times, reported that cryptocurrency exchange, Binance are down and has suspended withdrawals.     According to the Merkle, Binance, one of the world’s largest cryptocurrency exchanges which is said to be the fastest growing startup in history, has been offline for several hours.   Quoting the company “Due to a significant increase in users and trading activity, Binance will need to extend the System upgrade and is expected to be completed by 2PM (UTC),” the Binance team stated, noting that trading will remain…

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