Breaking News: Binance CEO Confirms Reports of Hacking Attack, Assures Funds Are SAFU

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CEO of Binance, Changpeng ‘CZ’ Zhao, confirmed the downtime experienced on Binance earlier on Wednesday, April 29, 2020. We reported an attack on Binance, the largest cryptocurrency exchange, with hackers using phishing sites to try to attack unknowing Chinese users.

A Chinese user raised an issue on WeChat groups claiming the attackers were suspect of a phishing attempt on users. The Binance China help desk did confirm the reports saying,

“It’s a satisfaction survey questionnaire for the professional version trading interface.”

Binance CEO- Funds Are #SAFU

A tweet sent out by CZ, a few moments ago, confirms the exchange was targeted by DDoS attacks causing the system to lag and hence the interruptions caused. According to the report gathered by the exchange, CZ believes the DDoS attack attempt was most likely caused by the exchange’s competitors.

In his closing comments, Binance CEO and Founder assured users their funds remain safe. The development team has since worked on the systems, which are working fine. The community is reacting positively to CZ’s quick response to the matter.

If you were affected by the DDoS attack on Binance kindly share with us in the comment’s box below.