Binance Says No Withdrawls for 7 Days following the 7000 BTC Hack

On May 7th, Binance, the world’s largest cryptocurrency exchange announced that it had discovered a large security breach.

Hackers were able to gain access to a large number of API keys and 2FA codes and stole 7000 BTC worth around $40 million at the time of this writing. While the exchange has said that its SAFU fund will cover all the losses and no user funds will be affected, Binance has halted withdrawals and deposits for the following 7 days.

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