Post
Topic
Board Trading Discussion
Re: Binance Has Been Hacked - Lost 7,074 BTC
by
xvids
on 08/05/2019, 00:23:16 UTC
From the same link you posted above:

Quote
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
At least the user funds are safe and wouldn't be affected.

And I agree we should be the one to keep our crypto safe and secure .
We should be the one who is holding and guarding our money.
That is why I never leave most of money on exchanges and keep it on my hardware wallet.


In as much that their security has been breached, people are not concerned  about them using SAFU fund to cover the funds stolen. People will be withdrawing all their coins from their platform to keep their funds safe from any future hacks. Its quite surprising to see Binance been hacked with all their security measures and protocols.
It is true it is about the trust on their site but let's be thankful that it wouldn't affect the users money.
And I am sure that they would do something to prevent this from happening again.
Surely they would upgrade their security system after this incident.