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The hackers stole $ 40 million in Bitcoins from Binance, a cryptocurrency exchange, precisely because they trusted it.
"The Bitcoin register is the most immutable"
That was the conclusion circulating On May 8th, within the cryptocurrency community, after the acceptance of one of the largest trading platforms in the world, it was unlikely that the funds would be recovered and it would be necessary for users to repay their money. poached.
The hackers managed to bypass Binance's security protocols earlier this week by launching what the leaders described as a coordinated attack.
A technical summary of the event accompanied the warnings of CEO Changpeng Zhao (known as CZ), according to which some user accounts could still be under the control of malicious parties.
As Bitcoinist reported, the markets quickly shook the impact of the attack, Bitcoin price 00 deposit only $ 200 and a few hours before bouncing.
However, the debate over Binance's hacking treatment – focusing on an idea Zhao defended to cancel the day's trading – has continued.
Known as the "reorg", the plan, which Binance has discussed with Bitcoin Core contributors and others, has sparked controversy. All parties came to understand that "modifying" the Bitcoin blockchain would require a giant consensual effort.
To put that in bed, it is not possible, the book of bitcoins is the most enduring book on the planet. Completed. https://t.co/rKLBCEZmgp
– CZ Binance (@cz_binance) May 8, 2019
Unlike other, more centralized blockchains, Bitcoin is so secure that accepting an unorthodox method of returning a small amount of funds to the entire mining community would be virtually impossible, indicated figures.
Zhao also seems to have noticed the mistake by even giving the idea.
"Putting that in bed is not possible," writes Zhao.
The Bitcoin book is the most immutable book on the planet. Completed
This, commented the commentators, testifies to the superiority of Bitcoin over other cryptocurrencies; the hackers chose to steal it because they knew that there was no chance that a reorg would succeed.
"Testament to Bitcoin's Value"
Mat Odell summed up candidly on Twitter:
The reason why bitcoin has been stolen at binary and not at a hundred shitcoins that they also offer is precisely because these strings are easy to restore – or freeze – while bitcoin is not.
An effort to make life difficult for hackers, however, continues, Zhao thanking companies for identifying and blocking funds as they move.
"I want to thank all the peer exchanges, portfolios, security / analytics teams and other service providers for their response, their help in need and the blocking of fraudulent fund transactions," he said. he declares. wrote on Twitter.
Charlie Shrem added that the possibility for anyone to follow the $ 40 million funds held on a big, immutable book was "proof of the value of Bitcoin".
Thursday, at the time of the press, the price of Bitcoins had crossed the considerable barrier of 6 000 USD to maintain a new support during its uptrend that has now lasted six weeks.
What do you think about the choice of cryptocurrency by Binance's pirates? Let us know in the comments below!
Pictures via Shutterstock
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