Binance Exchange Has Technical Issues, But Claims Funds Are Safe

Investing, News | March 7, 2018 By:

Cryptocurrency exchange Binance is suffering from a technical issue that saw some account holders compromised, with their altcoins coins sold without authorization and converted into bitcoin.

A Binance spokesperson responded via Reddit to user uproars. “We are investigating reports of some users having issues with their funds,” the Binance support rep wrote. “Our team is aware and investigating the issue as we speak. Please remain patient and we will provide an update as quickly as possible.”

Binance had to halt trading on its platform in February because of unspecific “maintenance” issues.
Regarding today’s mishap, Binance posted this statement on Reddit: “We are investigating reports of some users having issues with their funds. Our team is aware and investigating the issue as we speak. As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised. Please remain patient and we will provide an update as quickly as possible. Withdrawals are temporarily disabled at this time.”

Binance CEO Changpeng Zhao assured users that all funds are safe. “All funds are safe. There were irregularities in trading activity, automatic alarms triggered. Some accounts may have been compromised by phishing from before. We are still investigating. All funds are safe.”