Not hacked: Binance restores web services shortly after downtime

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  • The Binance exchange website suffered an outage, which has been restored.
  • Users had earlier feared that the exchange was hacked.

A few hours ago, crypto traders and investors on the leading cryptocurrency exchange seemed alarmed following a recent downtime in the company’s website services. Many people feared that the inaccessibility of the exchange website might have been caused by the network hack. However, it is clear enough that the exchange only suffered a downtime, given that the services were restored as quickly as possible.

Binance downtime spurred fear of hack

Earlier today, the leading cryptocurrency exchange took to its official Twitter account to confirm the downtime of their website. This came after the crypto users began complaining of difficulties in accessing the web services, including the Launchpad, Homepage, Futures market, Trades, and some other features hosted on the website. 

Upon users’ complaints, the exchange informed that the issue is being handled, urging users to continue their activities from their desktop applications. 

A few moments later, the CEO of the exchange, Changpeng Zhao, announced that the “Homepage, Download, Trade, Futures, Accounts, Markets, Launchpad all restored.” The CEO added that other sections of the exchange would be restored shortly, although he didn’t disclose the actual reason behind the website downtime.

Not a hack

Changpeng Zhao’s statement was a huge relief for most of the exchange users, as they applauded the exchange’s swift action in restoring the web services. Probably, users feared that Binance was hacked following the recent cases of an exchange hack, for instance, KuCoin exchange. The Hong Kong-based digital currency exchange was hacked about $150 million in cryptocurrencies, including Bitcoin, Litecoin, etc.

Data from CryotoQuant showed Binance was compromised, as the cryptocurrency outflows from the exchange are still running as usual.

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Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.

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