Quote from: Pursuer on May 10, 2019, 08:22:01 AM

Quote from: Jating on May 10, 2019, 06:04:42 AM

Quote from: kynaz on May 10, 2019, 04:18:36 AM

Quote from: emmybd on May 09, 2019, 09:52:12 AM

Binance has been considered one of the safest exchange out there. If hackers can penetrate with all the security measures then it proves that much more needs to be done to secure investors funds.

After this attack, Binance definitely needs to add other security features to make everyone's withdrawal safe. This will happen the week after Binance has official announcements on this issue. In the meantime, consider investing in altcoin which is present in this exchange because the loss of 2% of the BTC has caused this market to have a huge decline. Anyway Binance still guarantees assets for customers so I won't worry much about this

Huge decline on Altcoin market? I don't think it has something to do with the hack.

The decline was cause by smart investors moving their funds to bitcoin. Haven't you check the dominance of bitcoin as of lately? Close to 60% now, which means that the they are all moving to bitcoin ecosystem.

As for the addition of security features, I saw CZ tweets that his people hasn't had that much sleep in the last couple of days, so I'm sure they are working hard on the security as of this moment.

the altcoin dumps is mainly because of bitcoin price rise, I agree there but also there are many cases of some of the big coins that the dumps are because they were recently pumped (a small pump but still a pump) and they needed to be dumped and the bitcoin price rise was like the ignition that kick started that dump.

as for Binance's tweets, it is mostly to keep their users calm and prevent a small part of the panic withdrawal and sell attempts that has been going on ever since the hack news came out. otherwise the hack happened and they lost $40 million, it is too late to have sleepless nights to increase security.

Yes, absolutely Binance is one of the most top exchange and it was recognized for the safety and security before this incident takes place. It has been really sad news for the team behind the exchange, due to this incident there will get the major effect on those traders who trade daily on the Binance.

Now the team has come up with a better and safer security system which can help them to get over from the situation like this. According to the time they have to increase as much security which cannot get hacked. I strongly hope now the team has started taking massive actions towards its security issue and they will come with the most secure system. As well they will take care of this thing to never take place in the future.