Recently we people have been talking about how BINANCE is hacked or the trading system is not working up !
There is news for you fellow. Those who use BINANCE, Check out your trades if they are successfully completed.
News says
" BINANCE Company denies it was hacked and cites system upgrade for trade halt "
Yes folks. You heard it right.
BINANCE, one of the world’s biggest cryptocurrencies exchanges has denied that it was hacked after a system upgrade took place and created an extensive halt of trading and customer withdrawals of fund.
An official announcement was given to traders that
“Due to a significant increase in users and trading activity, BINANCE will need to extend the system upgrade”
that began hours earlier.
Zhao Changpeng, chief executive, said on Twitter that BINANCE had experienced a server issue on their replica database cluster, causing some data to be out of sync. It required the exchange to fully resynchronization from masters.
He also said that no Data were lost !
Mr Zhao said to a user on Twitter who asked for confirmation whether the exchange was the subject of a cyber attack or not.
"We have not been hacked. Just working with large data takes time,”
One User tweeted
“This is insane! 24 hours of downtime is completely unacceptable!”
But another said that:
“Technical difficulties/failures happen, especially to the biggest and most reputable exchange out there.
It’s life, and we all willingly signed up for this.”
Mr Zhao responded on Twitter to the FT, saying:
“We still have lots of room to improve. We are hiring.”
BINANCE like other trading companies, is growing rapidly, no doubt about that.
Whether to trust it or not, it's your choice.
Good luck, guys, on Whatever Decision you make.