[Updated after Binance’s Clarification] Rumor – Binance Exchange is Under Attack

The world's leading crypto exchange, Binance, is reportedly under attack. A trader's text has had users suspecting a phishing attempt.

Clarified by Binance

Coinnounce received Clarification regarding the Rumor, via email, from a Binance spokesperson:

Binance’s Chinese domain (binancezh.com) was experiencing DDoS issues earlier today, which have since been resolved. The “recent mailer” sent in an incorrect language to some users was not a phishing attempt, but rather a human error during the mailing and language selection process.

 

Earlier

Rumors are being spread that Binance, one of the leading crypto exchanges in the world, is reportedly under attack. According to the Coinness report, the Co-founder of Binance and CMO, Yi He, notified about the attacks in a WeChat group. A recent mailer from Binance sent in Chinese text, which has users suspecting a phishing attempt. However, the customer help desk of Binance informed it is a satisfaction survey questionnaire for the professional version trading interface.

 

Users report a large scale of lag on the contract page.

According to the Coinness report, some users also reported that a large scale of lag appears on the contract page. Currently, the eastern trading session is in full swing, and the western traders don’t know about the alleged attack on the crypto exchange. The crypto exchange has still yet to officially confirm these reports. 

Binance launches its mining pool. 

Binance CEO Changpeng Zhao recently announced the launch of the Binance mining pool. The mining pool will operate with zero fees until the end of the next month, and after that, the rate will be set at 2.5%. However, large miners can contact the mining pool to negotiate an extension of the fee-free period. The mining pool supports both mining mechanisms; Proof of Stake (PoS) and Proof of Work (PoW). 

With Binance launching its mining pool, several from the crypto community are concerned over the increase in the centralization of the hash power. However, Lisa He, the head of the mining pool, said that the launch of the mining pool would comprise a decentralizing force upon the mining sector. 

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Jai Pratap
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

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