Binance pledges to ‘significantly’ increase security following $40M Bitcoin hack

Binance pledges to ‘significantly’ increase security following $40M Bitcoin hack

5 years ago
Anonymous $9jpehmcKty

https://techcrunch.com/2019/05/10/binance-security-hack/

Binance has vowed to raise the quality of its security in the aftermath of a hack that saw thieves make off with over $40 million in Bitcoin from the exchange.

The company — which is widely believed to operate the world’s largest crypto exchange based on trading volumes — said today that it will “significantly revamp” its security measures, procedures and practices in response. In particular, CEO Changpeng Zhao wrote in a blog post that Binance will make “significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident.”

Binance pledges to ‘significantly’ increase security following $40M Bitcoin hack

May 10, 2019, 10:23am UTC
https://techcrunch.com/2019/05/10/binance-security-hack/ > Binance has vowed to raise the quality of its security in the aftermath of a hack that saw thieves make off with over $40 million in Bitcoin from the exchange. > The company — which is widely believed to operate the world’s largest crypto exchange based on trading volumes — said today that it will “significantly revamp” its security measures, procedures and practices in response. In particular, CEO Changpeng Zhao wrote in a blog post that Binance will make “significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident.”