The CEO of Binance, Changpeng Zhao (CZ) is in the latest cryptocurrency news for his announcement which shows that the hacked exchange Binance is preparing to resume with its deposits and withdrawals as of tomorrow, Tuesday May 14th.
“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,” Zhao wrote in a brief update describing the situation around the hacked exchange Binance.
“We aim to fully resume deposits and withdrawals on Tuesday. The time will be communicated at a later stage, depending on how the testing goes. This upgrade will require a trading halt. We will update you again tomorrow,” he added.
Right now, all of the withdrawal and deposit actions on the hacked exchange Binance are marked “Suspend” and can’t be carried out. However, the coming altcoin news show one user who said that the deposits can be sent to the address by way of previously identified addresses.
In the previous announcements, the hacked exchange Binance announced upcoming support for the hardware-based 2FA devices such as YubiKey.
The breach, on the other hand, went viral on many best cryptocurrency news sites last week, where the unnamed hackers apparently got away with 7,000 BTC (worth approx. $41 million at the time) from the hot wallets of Binance. They accessed both the user API keys and proceeded with the two-factor authentication codes to withdraw the cryptocurrency.
The hacked exchange Binance afterwards stopped the withdrawals and deposits but allowed the intra-token trading on the site. The hackers moved the stolen Bitcoin, causing many to speculate that they are preparing to launder the money through many cryptocurrency exchanges.
Right now, the coming altcoin news show a slight correction in the market and a total cryptocurrency market cap of $213 billion, with $77 billion in 24 hour trading volume. The Bitcoin dominance has decreased a bit and almost every coin in the top 10 – besides Binance Coin (BNB) – is correcting anywhere from 1% to 5%.
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