Breaking News: Binance CEO Confirms Reports of DDoS Attacks, Assures Funds Are SAFU

binance
Image: Binance

Breaking News: Binance CEO Confirms Reports of DDoS Attacks, Assures Funds Are SAFU

CEO of Binance, Changpeng ‘CZ’ Zhao, confirmed the downtime experienced on Binance earlier on Wednesday, April 29, 2020. We reported an unconfirmed attack attempt on the Chinese domain of Binance, and now CZ confirms it was a targetted denial-of-service (DDOS) attack on the platform.

A Chinese user raised an issue on WeChat groups claiming the attacks on the site as they could not log in and were suspicious phishing attempts. However, the matter has since been resolved and the platform is back up running.

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.

Summary
Breaking News: Binance CEO Confirms Reports of DDoS Attacks, Assures Funds Are SAFU
Article Name
Breaking News: Binance CEO Confirms Reports of DDoS Attacks, Assures Funds Are SAFU
Description
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.
Author
Publisher Name
Coingape
Publisher Logo
Coingape is committed to following the highest standards of journalism, and therefore, it abides by a strict editorial policy. While CoinGape takes all the measures to ensure that the facts presented in its news articles are accurate.
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Author: Lujan Odera

Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.

Post your comment...
Lujan Odera 384 Articles

Been in the field since 2015 and he still love everything blockchain and crypto! FC Barcelona fan. Author and journalist. Follow him at @lujanodera.

Follow Lujan @