Post
Topic
Board Trading Discussion
Re: Binance Has Been Hacked - Lost 7,074 BTC
by
binhvo1505
on 12/06/2019, 04:56:50 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.

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.
Their protocols and security systems are great. and CZ said the reason why their security system was broken, was because at press conferences, they talked about their security system and that created an opportunity for hackers to invade easier access to the system. This is really an unexpected incident, but fortunately the price of BNB dropped only 5% at the time and it rose back to $ 33.