Binance CEO confirms the exchange was under attack

Earlier today, April 29th, the world’s leading exchange, Binance, suffered an unexpected downtime. It took only moments for the first speculation of the new hacking attack to emerge. However, it appears that the speculators were correct.

Someone targeted Binance nearly a year after the last breach

As many may remember, Binance already suffered a hacking attack nearly a year ago. Back then, it lost $40 million in BTC after the attackers hit it in early May.

Now, there are only a few days until the anniversary of the attack. With that in mind, the community can be forgiven for assuming that the attacker came back for more.

In addition to that, a Chinese user on the WeChat group made specific claims, saying that Binance is under attack. According to the user, the attackers were likely to use phishing attempts. Even the Binance China help desk confirmed that something was going on.

With rumors usually becoming wilder and wilder as time passes, Binance’s CEO broke the silence and told the truth.

No need to be concerned, says CZ

As usual, CZ came out on Twitter, posting that “Earlier today, our Chinese domains experienced targeted DDoS attacks, and users saw some lag and interruption of network access. Based on the attack pattern, it looks like work of our self-perceived competitors. No need to be concerned. Systems are fine. Funds are #SAFU.“

In other words, Changpeng Zhao believes that it was the exchange’s competitors who made an attack. However, he also responded to a tweet speculating about Binance strengthening its security by hiring hackers. He confirmed that this is, indeed, the case.

Meanwhile, it appears that the exchange returned to normal in record time, which the community greatly appreciated. Not only that, but Zhao’s transparency and quick reaction also saw a surge of positive comments.

For now, at least, Binance seems to be back to normal.