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.
No one would even know on what would happen next but its better to be safe that sorry specially for those people who do
mostly keep majority of their holding on their exchange account.It might not hurt for others but it would be an another case to anyone.