Binance Cryptocurrency Exchange Is Not Hacked. Just DDoS Attack

Binance Cryptocurrency Exchange Is Not Hacked. Just DDoS Attack

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Binance, one of the world’s largest cryptocurrency exchanges, has suspended all trading after system maintenance took longer than expected. Last night, Hong Kong-based cryptocurrency exchange Binance with little warning beforehand, and a message afterward claiming it needed 12 hours to complete site upgrades. People started to panic.  The downtime of Binance was supposed to last only a few hours but at this stage has been close to two days. The suspension has sparked fears that the exchange has been hacked, though Binance, responding to such comments on Twitter, has strongly pushed back against the claim. The company's CEO, Changpeng "CZ" Zhao, took to Twitter to explain the issues and let people know what happened to the server. At last, just a few minutes ago he tweeted that the Binance exchange is available: However, there are still problems with access. CZ explains it as “a DDoS attack on their cloud provider”, not hack: Binance is one of the biggest and most heavily trafficked cryptocurrency exchanges, with nearly $480 million worth of bitcoin passing through its servers in the past 24 hours, according to CoinMarketCap.

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