Post-Hack, Binance Plans to Re-open Withdrawals and Deposits Tomorrow

528 aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8wOGU0MDQzYTAwMDNmNTlhMzU0OWZkMWI1NThhY2Y5OC5qcGc

Changpeng Zhao (CZ), CEO of major crypto exchange Binance, has announced that the platform plans to fully resume deposits and withdrawals tomorrow. CZ made the announcement in a security incident update published on May 12.As reported, Binance had suspended deposits and withdrawals as it worked to rehaul its security systems in the aftermath of a major hack on May 7, which resulted in the theft of around 7,070 bitcoin (BTC) from the exchange’s hot wallets — worth over $40 million at the time.In the latest update, the CEO kept details of the exchange team’s post-hack actions scarce, telling the public that he would reveal more information once the platform had fully resumed all of its operations. He thus briefly outlined that:“Our team is making progress and has been working through the weekend. In the past few days, we have made some significant overhauls to our system, with a large number…

Read the original article here