Quote from: pawanjain on May 08, 2019, 02:23:50 PM

The concern here is not about the funds stolen but about the security breach that allowed the hackers to steal bticoins from the Binance exchange.
The amount 7k BTC now but it can be a greater amount in the future. Although Binance claims that the funds were stolen from the hot wallet which consisted of only 2% of their balance.
What happened to all those security firms Binance partnered with over the last few months ? I am sure they must be having a hard time now that the Binance is hacked.
Although Binance is concerned about the stolen funds and will use SAFU to recover the funds, we as it's users should be aware that any exchange can be hacked and shall keep only a limited amount on the exchange.

There was no hack invasion. The article says that the hacker got a big number of API and credentials from users by using phishing attacks, virus and other methods. Thus, the big problem wasnt on the exchange, but on the users. The part which was Binances fault is that they couldnt block the massive withdrawal of 7k BTC before it happened.