- To investigate the attack, Binance chose to suspend all deposits and withdrawals from the crypto exchange. Now, they are planning to reopen this service for their users.
Last week, it was reported that Binance, the world’s biggest cryptocurrency exchange by trading volume, was hacked.
The hackers managed to steal 7,000 bitcoin, equivalent to over $40 million, in one transaction by having, among other things, overcome API keys and codes for two-factor authentication.
This allegedly was done in different ways, among other things through phishing and viruses.
Resumes deposits and withdrawals
To investigate what happened, Binance chose to suspend all deposits and withdrawals from the crypto exchange.
Now, the CEO of crypto exchange Changpeng Zhao has announced that they plan to resume deposits and withdrawals on Tuesday.
“Our team is making progress and has been working through the weekend. In the past few days, we have made some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected. We will share details on some of the changes later”, Changpeng Zhao writes in an update and adds:
“We aim to fully resume deposits and withdrawals on Tuesday.”