Hackers Withdraw 7,000 Bitcoins in Binance Crypto Exchange Security Breach

A large scale security breaches today, the world’s largest Cryptocurrency exchanges Binance has been hacked by the hackers.  Crypto exchanges lose around 7000 Bitcoin (BTC) worth about $40 million via a single transaction. Hackers were able to obtain a large number of user API keys, 2FA codes, and possible other information. They used various techniques, viruses, including phishing and received a large amount of user’s data. CEO Changpeng Zhao states that the Bitcoin’s were withdrawn from its hot wallets. According to the exchange, all of its other wallets are secure. Binance says it will use its Secure Asset Fund for Users (SAFU) to cover any losses and reimburse customers. Users can still log in and trade, although deposits and withdrawals are disabled. They would conduct a large-scale review of its security protocols and did not rule out the possibility of unearthing further breaches.

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