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Tag Archives: Binance

Binance Hacked; Nearly $600 Million in BNB Stolen

It’s happened again, folks. Another hack is in the books, but this one was not only large, but also unexpected. The victim this time around is Binance, the largest and most powerful digital currency trading platform in the world. Binance Has Lost a Lot of Money At the time of writing, the exchange has lost more than $600 million in a cyberattack. All the funds in question were in BNB, which stands for Binance Coin. It is the exchange’s native token. The exchange reported...

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Binance Wants to Use Crypto and Blockchain to Help Twitter Fight Bots

After allocating $500 million to support Elon Musk’s Twitter buyout, the world’s largest crypto exchange said it wants to establish a dedicated unit to help the social media platform’s upcoming challenges. The statement from the company, as reported by Bloomberg, informed that one of the key areas where Binance wants to help the most is battling bots. Fake accounts have been a major issue for the social media giant, especially such that promote fraudulent scams, many of which...

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Kazakhstan to Integrate its CBDC on BNB Chain, CZ Confirms

Changpeng Zhao – CEO of Binance – revealed that the National Bank of the Republic of Kazakhstan will integrate its central bank digital currency (CBDC) into BNB Chain. The firm has strengthened its presence in the Central Asian country lately. The local regulator AIFC Financial Services Authority (AFSA) allowed it to operate a digital asset platform and provide custodial services to Kazakhstani consumers. The NBK Picked BNB Chain Zhao disclosed that Binance’s team has...

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Binance Reveals Getting Closer to Identify Hacker that Drained $570M

Binance is on the verge of uncovering the hacker(s) behind the $570 million exploit on its cross-chain bridge, BSC Token Hub, earlier this month. In a recent interview with CNBC’s ‘Squawk Box Europe,’ Binance CEO Changpeng “CZ” Zhao said the firm had received substantial tips from law enforcement authorities to identify the hacker(s) that drained two million BNB tokens. Binance “Narrowing Down” A series of attacks on targeting vulnerabilities in cross-chain bridges over the...

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Binance One Step Closer to Figuring Out $570M Hacker Identity, Zhao Explains

Binance CEO Changpeng Zhao revealed that the company has most of the compromised funds and is ‘narrowing down’ the identity of the hacker.Crypto exchange Binance is reportedly narrowing down the identity of the hacker behind its $570 million crypto attack. This development comes after the company’s CEO Changpeng Zhao revealed that Binance received a tip from law enforcement. As Zhao put it:“We’re still actually chasing … helping [authorities] to chase the bad players, working with law...

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Binance US Hires ‘The Most Feared Man on Wall Street’ as its Head of Investigations

Binance US – the American subsidiary of the world’s largest crypto exchange – appointed the former FBI agent BJ Kang as its first Head of Investigations.  In this role, he will aim to ensure maximum customer protection by “partnering closely” with regulators and law enforcement agents.  ‘The Most Feared Man on Wall Street’ Joins Binance US According to a recent announcement, BJ Kang will use his rich experience to identify illicit criminal activities related to...

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Binance Does Not Use Uniswap (UNI) Tokens to Vote, Clarifies CZ

After Binance became the second-largest entity by voting power in the Uniswap DAO, the CEO of the popular DEX, Hayden Adams, took it to Twitter to describe the situation as “unique” while adding that “UNI technically belongs to its users.” He accused Binance of using user funds to pile up governance votes. Hayden Adams on Binance Adams claimed that it was unclear how the crypto exchange intended to engage with the decisions of the DEX and argued that Binance users would...

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