Binance, the world’s largest cryptocurrency exchange, rejected rumors that it was hacked after the maintenance attracted long after its initial time, leaving traders unable to access the platform.
Binance Suffers a Prolonged Period
At Wednesday afternoon, Binance suddenly posted on Twitter as the exchange, which regularly handles a volume of several billion dollars in a single day, was in the process of maintaining the system and that users would probably have a “temporary decline” of performance.
A system maintenance is in progress, some users may experience a temporary decrease in exchange performance while this in underway.Thank you for your understanding.
— binance (@binance_2017) February 8, 2018
An hour later, Binance published another update, explaining that maintenance which involves full reflow of the company’s repository database. Will take longer than expected, and it may take several hours to return the online platform.
Binance Executive Director Changpeng Zhao prolonged that timeframe again, saying it would take perhaps 10 hours to complete the upgrade.
At this time, the currency exchange was offline for almost 13 hours, and traders were frustrated that they could not access their funds and that their open orders were not filled.
Sadly, Binance has once again extended its maintenance window, saying the data synchronization lasted longer than expected, and the platform would probably not work until Friday morning at 4:00 UTC.
Starting at 19:00 UTC, the exchange continued to abide by that timetable and said it would give users access to the platform 30 minutes before reopening the deal so that they can cancel the open orders and perform any other tasks required.
The Company Denounces The Hack
Various visitors have thanked the exchange for its transparency, while others have mumbled over the prolonged period. A few asked if Binance had been hacked.
Prosecutor John McAfee used the blue marker mark to add combustible to the fire, tweeting that “top crypto influencers” he thought that the company would have been hacked.
While I have no solid evidence, the rumors fly amongst the best crypto influencers that they could have been hackers. It will keep you up to date, he said.
Binance immediately reproached these rumors in a tweet personally directed at McAfee, and Zhao posted an image to support his statement.
All because this didn’t do what it was suppose to do. Not hack. pic.twitter.com/gHW9fxaAQN
— CZ (@cz_binance) February 8, 2018
McAfee, anyway, refused to fire. “I’m sorry, but I’ve received dozens of reports similar to this. Do not try to create FUD, just trying to understand,” he said.
We will prove you erroneous, Zhao answered.