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The Binance exchange has had a difficult week, there is no doubt. But they recently came to say that they were reviewing their safety after losing 7,000 Bitcoins worth more than $ 40 million earlier this week.
The application programming interface, withdrawal validation, and two-factor authentication systems will undergo significant changes. The CEO of Binance, Changpeng Zhao said in a blog article published today (May 10).
"We are making significant changes to the API, 2FA validation and opt-out areas, which were exploited by hackers during this incident. We are improving our risk management, user behavior analysis and customer awareness procedures. We are working on more innovative ways to fight phishing. We have also put in place a number of additional security measures that are not directly visible at the beginning of the process. "
Binance will also take action on some of the measures in the coming week and weeks to restore services as soon as possible.
Regarding stolen Bitcoins, Zhao said:
"In terms of impact, the single transaction on about 7,000 BTCs with BTC is the only transaction in which funds were stolen, and it's very simple to check it on the blockchain. Many community experts monitor each Binance portfolio. We are still studying every other aspect of the system to make sure nothing is left to chance. In addition, we work with a dozen teams of leading security experts in the industry to improve our security and locate hackers. "
What was nice to hear was that the Binance team was not disappointed by the events with CZ:
"Mentally, Binance's team is neither sad nor depressed; on the contrary, we are in combat mode. This event has once again united an already tight team. We have received tremendous support from our community and your support is a credit to us. We will continue to fight for all of us, the community, against hackers and malicious people. I think this incident, while damaging us now, will make us really stronger and safer in the long run. "
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