Post
Topic
Board Trading Discussion
Re: Binance Has Been Hacked - Lost 7,074 BTC
by
exstasie
on 11/06/2019, 20:51:37 UTC
I have had funds parked at Binance for a few years now and none of my funds were ever stolen or hacked. However, today I withdrew all of my funds out of Binance. It was all sent to my cold storage wallet. I am taking a break from having my funds unprotected.

Is Binance is heating up?

You just never know. After Bitstamp and Bitfinex got hacked years ago, they never had a large scale compromise again. I'm hoping that applies to Binance as well. At the same time, they must have a huge target on their back given the number and size of their markets, and the fact that they are crypto-only.

I've lowered my exposure since the hack. I'm looking forward to seeing margin trading rolled out on Binance so I can keep even less funds there.