Binance Bitcoin Exchange will update security system after hacking

Binance Bitcoin Exchange will update security system after hacking

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A new study of Binance confirmed the likely reversal of the cryptocurrency market

Binance cryptocurrency exchange leading in terms of trading volumes will update the security systems after a hack, during which attackers managed to steal 7000 BTC ($ 40.5 million).

The changes will affect the API, two-factor authentication and the process of confirming the withdrawal of funds. #Binance Security Incident Update An update from @cz_binance, Universal 2nd Factor (U2F) support, such as @Yubico.

The CEO of ChangPeng Zhao did not disclose the details of the upgrade to the users, but stressed that in addition to the backend, risk management principles, user behavior analysis and the KYC procedure will also be changed.

According to him, the exchange will open withdrawals at the beginning of next week. At the same time, Binance will add support for hardware wallets from YubiKey and other similar devices, and 1000 YubiKey will be played among users.

Recall about hacking Binance first became known on Wednesday, May 8. At the same time, Zhao even considered the possibility of reorganizing the Bitcoin network, but later abandoned this idea.

Later, the attackers began to split up the stolen funds and send them in parts to different addresses. We add that Binance, in partnership with research firms, monitors the migration of assets in an attempt to catch hackers.

Binance Bitcoin Exchange will update security system after hacking

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