Binance CEO Changpeng Zhao Informs Users of Withdrawal and Deposit Exchange Features Back Active

After the 7th of May 2019 hack of the Binance Exchange, wherein 7,000 BTC, worth about 50 million dollars, was stolen, the exchange assured its users of improved security measures.

The CEO of Binance, Changpeng Zhao, has however, Informed Binance users that deposit and withdrawal features will be available again next week.

Withdrawal/Deposits Services Resumption

@VanessaCrypto, a Twitter user asked CZ in a tweet :

“Hey @cz_binance how long till the deposite/withdraw suspend is over ? @binance #Binance”

In response to the tweet, Changpeng Zhao tweeted:

“We are aiming for early part of next week, better safe than sorry this time. Please bare with us. Your understanding is much appreciated. ”

Bitcoin Surge

As the value of Bitcoin, the largest digital currency keeps rising daily, almost hitting the 7,000 USD mark, Binance users are anxiously waiting for withdraw/deposit service to be reactivated, to enable them profit from this BTC hike.

One of the Binance users on Twitter asked CZ to hasten the process. To that that he replied “working on it, day and night”

Binance Security Assurance

Binance, undoubtedly the largest digital currency exchange platform was before the may 7th hack, believed to be quite secure. After this hack, Binance CEO, Changpeng Zhao pledged to ‘significantly revamp’ all its security protocols and practices.

He said : “significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident.”

The Binance Coin (BNB) Stats

The recent hike in Bitcoin (BTC) saved the Binance coin from a total slump after the hack. The Binance Coin, BNB, is currently valued at 20.52 USD and a marketcap of 2.89 billion USD.

BNB, having a 10.51% drop last week, had a 24hr transaction volume of $234.74 million.

It however, in the past day made a 6.03% bounce having 1.09% growth in an hour.