Hackers steal over $40 million worth of bitcoin from one of the world's largest cryptocurrency exchanges https://t.co/euktgZJzRf

— Nouriel Roubini (@Nouriel) May 8, 2019

❗#CryptoNews ❗

The big #cryptoexchange #Binance was #hacked: 7,000 #Bitcoin worth $40 million were stolen from the platform.@binance will cover - so no user fund will be affected ?#cryptocurrency#cyberattack#hodl #crypto#cryptotreeinfo

?https://t.co/bVnyvtW0yI

— Crypto Tree (@cryptotreeinfo) May 8, 2019

This has got to be stopped if cryptos are going to become more mainstream. Hackers steal over $40 million worth of bitcoin from one of the world's largest cryptocurrency exchanges https://t.co/yVgzxs6IKt

— Tom Basso (@basso_tom) May 8, 2019

Binance, one of the world's largest cryptocurrency exchanges, was hacked:

- 7,000 #bitcoin worth over $40 million stolen

- Theft from "hot wallet" which accounts for around 2% of total $BTC holdings

- Binance will cover incident "in full"

More here: https://t.co/eKbgCrzOqU

— Arjun Kharpal (@ArjunKharpal) May 8, 2019

#crypto #Security #hack #news - #hackers steal over $40 million #bitcoin #btc from one of world's largest #cryptocurrency #exchange ⁦@binance⁩ from #internet connected hot #wallet via sophisticated #software #breach #cyberattack to #steal #coins https://t.co/tavumaaK1K

— Ayoka Systems (@ayokasystems) May 8, 2019

Hey bro, its crypto! Hackers steal over $40 million worth of bitcoin from one of the world's largest cryptocurrency exchanges https://t.co/ZPrdPJThjy

— Stop(ped) Ironing Shirts (@StIroningShirts) May 8, 2019

#Hackers steal over $40 million worth of #bitcoin from one of the world's largest #cryptocurrency exchanges https://t.co/hvaAvclBAU

— Remi Afon (@RemiAfon) May 8, 2019

Hackers stole $40 million from a major #bitcoin exchange #EngadgetNews #Binance #Cryptocurrency #Exchange #gear #Hacking #HotWallet #security https://t.co/mqnvuxIh8m

— BitcoinAgile (@bitcoinagile) May 8, 2019

One of the World's Largest Crypto Exchanges, Binance, Hacked to the Tune of $40 Million #btc ⁦@digitalassetbuy⁩ https://t.co/6fuw0B93Bq

— XRP_BigTime (@XBigtime) May 8, 2019

“The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time". Always assume you are already hacked. Design and communicate accordingly. https://t.co/uCQoGdgMqs

— Lance R. Vick (@lrvick) May 8, 2019

Classic Bitcoin. $41 million dollars gets swiped overnight. And yet, people can't help but marvel, at the low transaction fees to move so much money from one account to another. https://t.co/qs8DDxdi1b

— Joe Weisenthal (@TheStalwart) May 8, 2019

Binance doesn't know the full extent of the hack, they know some 2FA has been compromised, they don't know which customer accounts are compromised, yet they enable trading. This is ballsy beyond belief. pic.twitter.com/XiZNqn8dKF

— Emin Gün Sirer (@el33th4xor) May 8, 2019

A brief reminder that @Coinbase, founded nearly 7 years ago in June 2012, has never been hacked.

— Mike Dudas (@mdudas) May 8, 2019

Binance hacked.. always reminder to store off exchanges. Hardware wallets. Own and control your own assets till Dexes. https://t.co/mkCjJ3qWQb

— Justin Wu - Wu - Consensus NY (@hackapreneur) May 8, 2019

Exchanges that are operated by a central party are all prone to security breaches. But what‘s most telling are the procedures put in place to mitigate the damages to customers.

Binance puts 10% of their trading fees into their SAFU fund, which now covers this 7,000 BTC loss. https://t.co/QTxfiz2zY9

— Katherine Wu (@katherineykwu) May 8, 2019

There’s a bit of superficial discussion happening (mostly dismissal) of CZ of binance’s exploration of reorganizing the blockchain to reverse binance’s recent hack. Here’s why such a rollback is plausible in a future case (whether we want it to be plausible or not.)

— Ari Paul ⛓️ (@AriDavidPaul) May 8, 2019

Got to appreciate the transparency, but this has to be frightening for anyone with funds on Binance. Key quotes from the article:

"No user funds will be affected"

"..deposits and withdrawals will need to remain suspended"

"We estimate this will take about 1 week" https://t.co/UfpIF7abIP

— Financial Survivalism (@Sawcruhteez) May 8, 2019

Thanks for the support, really appreciate it. But currently no need. We will cover the loss from the #SAFU fund, there is enough. We are hurt, but not broke.

We are working hard to resolve the issue, so that everyone can deposit and withdrawal again. Will take some time. https://t.co/0j4J0fk99W

— CZ Binance (@cz_binance) May 8, 2019

As terrible as this and any hack might be, this again proves importance of bitcoin as an auditable, transparent system - an aspect that I think is often underplayed. Privacy is important, but big players owe their users such transparency (and arguably more) https://t.co/yJm9bAvJw6

— Hugo Uvegi (@huvegi) May 8, 2019

An important lesson: now you know why certain people want their own altcoin with their own chain that they control (even though they claim it's decentralized). If they make a mistake, they can just bail themselves out.
That won't happen with Bitcoin. Honey badger doesn't care.

— WhalePanda (@WhalePanda) May 8, 2019

Not the best of days, but we will stay transparent. Thank you for your support!https://t.co/Y1CQOatEpi

— CZ Binance (@cz_binance) May 7, 2019

Looks like withdrawals held up for a week too. But cash fund covering according to CZ https://t.co/iht1RHaih7

— Alan Silbert (@alansilbert) May 8, 2019

Here's the most important bit; no withdrawals from Binance for at least a week.

The biggest Tether exchange isn't going to let you withdraw for a week. pic.twitter.com/KrP9NnWOof

— Bitfinex’ed — full stop. (@Bitfinexed) May 7, 2019

7k BTC stolen in a security breach but Binance will cover the loss with their own funds. https://t.co/6T38dEG6Y6

— The Crypto Monk ⛩ (@thecryptomonk) May 7, 2019

It turns out the re-org discussion is hotter than the incident itself. And becoming a little twisted.

1. we did not initiate the idea. It came from a suggestion from Jeremy (quoted tweet)
2. we did discuss it. Many people seems to deem even that itself is wrong. I don't think https://t.co/vLAurq6AKt

— CZ Binance (@cz_binance) May 8, 2019

So does anyone remember that in July 2018, there was a mysterious 'hack' on Binance where 7000 BTC was also withdrawn and an emergency maintenance?https://t.co/xPfAldU5qM pic.twitter.com/5Ap5awAt2k

— Bitfinex’ed — full stop. (@Bitfinexed) May 8, 2019

1. Hacks, scandals, frozen accounts remains one of the biggest hurdles for mainstream adoption. The REAL bull won’t arrive until it’s solved

2. Binance is proving it’s the best in the business. This credibility helps solve the issue I mentioned above. https://t.co/MPXrrAYr8Q

— Crypto Quantamental (@CryptoQF) May 8, 2019

Binance hacked for $40mm. Not existential, they’ll make that back in 4-6 weeks.

What *is* alarming is that they have $2 billion in custody...just in BTC.

Likely $3 billion+ total crypto. Was that a known figure previously? https://t.co/skORy03O78

— Ryan Selkis (@twobitidiot) May 8, 2019

The Binance hack smells like an inside job. pic.twitter.com/Wv2rxyDSaP

— rae (@cryptorae) May 7, 2019

This is the only correct take on a @Binance-led reorg. Take the L, fix the security hole, safeguard customer funds and move on. pic.twitter.com/9fWT64V0xz

— Mike Dudas (@mdudas) May 8, 2019

Unbelievable. Never keep your coins on an exchange. It doesn't matter if they're the biggest most popular exchange in the world. https://t.co/pV0WdCzS1C

— galgitron (no price predictions) (@galgitron) May 8, 2019

Turns out that when @cz_binance delisted #BitcoinSV it was actually protecting users from their own shoddy security. #Thankshttps://t.co/5JloaHyyZl

— $Brendan Lee (@CoinstorageGuru) May 8, 2019

Binance security breach, affected 2% of their BTC holdings, deposits and withdrawals suspended for a week. Computer and crypto security remains a very difficult problem for all. https://t.co/qmipB2gJoa

— Emin Gün Sirer (@el33th4xor) May 7, 2019

$40M stolen from Binance.

"Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks." https://t.co/3BQkTS2Vhs

— Chris Wysopal (@WeldPond) May 8, 2019

Binance hack: DON’T PANIC! Only hot wallets impacted. Amount: 7,000 BTC, less than 2% of total holdings. Deposits/withdawals offline. Allegedly, @binance will cover the hack-losses using the “SAFU Fund” per the note from @cz_binance. Investigation ongoing. https://t.co/TgLvukRdNf

— Gabor Gurbacs (@gaborgurbacs) May 8, 2019

Even ⁦@binance⁩, can get hacked, can’t believe funds are not #safu anymore. Time for mass movement to end user key management systems

Binance Security Breach Update – Binance https://t.co/82EjVgAXOP

— Daniel Bar 丹尼尔??‍? (@danieltbar) May 8, 2019

OMFG! @binance was breached and hackers were able to withdraw 7000 BTC which is approximately over $40 .7 million (at $5,816/BTC).

Link to the transaction: https://t.co/5a9gMLROih

Source: https://t.co/FmZY5wSJ7N

— Yassine Aboukir (@Yassineaboukir) May 7, 2019

Wow @binance has been breached. Hackers withdraw 7000 BTC ~= 50 M$ https://t.co/L9V2EgI9UP

— Elliot Alderson @ #io19 (@fs0c131y) May 7, 2019

Binanceがハックされて7000BTCほど盗まれる。
補填用の基金も作ってたことと、Binanceにとって致命的に大きい金額でもないけど、一度もハックされたことない同取引所もついに被害に。API経由でのハックの可能性。
完璧にユーザー資産を守ることはいかに難しいかという事例。https://t.co/e8j8yLBZft

— Junya Hirano 平野淳也 (@junbhirano) May 8, 2019

The timing of this is SPECTACULARLY coincidental!

NYAG crashing down on them for 850M binance losses covered by tethers..

Funds Safu says CZ

now this:

May 7, 2019, 7000BTC hack. (approx 42 million USD)

The classic hacker stole my homework routine?https://t.co/TmEH95VEXk

— Mr. Scatman (@bsmith12251960) May 7, 2019

Binance Security Breach Update https://t.co/YSwqC3TLQb

— hhitoshi923 (@hhitoshi923) May 8, 2019

Binanceにハッキング。7000BTCほど抜かれたが、それはもちろんホットウォレットの話。Binance保有のBTCの2%に過ぎず、大半はコールドウォレットで安全だとアナウンスしてる。それにしても色々起きた後では40億円を超えてても被害が少ないと思ってしまう。感覚マヒしてますね…https://t.co/Fk6CMXrK50

— 上原 哲太郎/Tetsu. Uehara (@tetsutalow) May 8, 2019

バイナンスで盗まれたコインはトレーダーに全額補償されるって?

https://t.co/y34ZmLE13V

— SACHI＠?待機中? (@bakuagecoin) May 8, 2019

BINANCE DISASTER: Hackers steal $42 million https://t.co/dIy71dzTTr #Binance #Crypto #CryptoNews @MICKYNewsOz pic.twitter.com/kIzkRZ972p

— Bitcoin Mafia (@Bitcoin_Mafia) May 8, 2019

Binance cryptocurrency exchange blames hackers in theft of $40 million in bitcoin - CyberScoop https://t.co/z88Ogl4Sfu, via @jeffstone500

— Sean Lyngaas (@snlyngaas) May 8, 2019

Here's why Binance can't erase the $40M hack from Bitcoin's blockchain https://t.co/LAqT4q1HLB

— TNW (@thenextweb) May 8, 2019

hard fork – the next web: here’s why binance can’t erase the $40m hack from bitcoin’s blockchain https://t.co/DNu7ssePUJ

— crypto retreat (@cryptoretreat) May 8, 2019

Binance에서 도난당한 4 천만 달러 이상의 암호화폐 https://t.co/wBQYVF1H53

— editoy (@editoy) May 9, 2019

"Crypto is secure" https://t.co/aZxBX85EVR

— Bozhidar Bozhanov (@bozhobg) May 8, 2019

Binance #bitcoin hack: Over $40 million of #cryptocurrency stolen https://t.co/3o7glwdbnP

— Guillaume Lepecq (@glepecq) May 8, 2019

"Hackers steal over $40 million worth of $BTC from one of the world’s largest cryptocurrency exchanges." https://t.co/GEs707jNne @binance @CNBC #blockchain #cryptocurrency #hackers #security #exchanges #SentinelProtocol

— Sentinel Protocol (@UPPSentinel) May 8, 2019

Hackers stole over 7,000 bitcoins from major #cryptocurrency exchange Binance, about 2% of its total #bitcoin holdings. via @CNBC https://t.co/o3wtVjpYlG #breach pic.twitter.com/mlHufzH9zd

— SonicWall (@SonicWall) May 8, 2019

Yesterday binance was hacked, 7000 bitcoin were stolen Binance managed to stop the attack and minimize losses ?https://t.co/65p4gN9pmv#Hacking #Binance #zynecoin #hackers

— Zynecoin (@zynecoin) May 8, 2019

"The hackers used a variety of techniques, including phishing, viruses and other attacks." Understanding the context of communications has never been more critical for enterprise security. #bitcoin #blockchain #cybersecurity https://t.co/FJQJbN2OSI

— Anand Raghavan (@raghavan_anand) May 8, 2019

Here's why Binance can't erase the $40M hack from Bitcoin's blockchain https://t.co/DLLpb8j9cp

— TNW (@thenextweb) May 9, 2019