Crypto Exchange CoinBene Affirms Long Maintenance Downtime Period Is Not Due To A Hack

Crypto Exchange CoinBene Affirms That Long Maintenance Period Is Not Due To A Hack

We see crypto exchanges being hacked all the time, so when a prominent exchange has a prolonged downtime, people often start to think that it was hacked. These concerns, unfortunately, haunted the CoinBene users until now. In fact, the users got so afraid that the exchange simply had to send an official report on Twitter saying everything was just fine.

On Twitter, you can see the exchange apologizing for the long maintenance downtime and saying that they were not hacked. In fact, part of why the downtime was so long is because the company was actually trying to prevent a hack from ever happening.

Since so many exchanges suffered thefts, the technical team of the exchange has now decided to upgrade the wallets and the whole system to make it more strong and help the clients and partners of the company to be protected and have their assets secured.

The company has also affirmed that the platform is 100% secure and will continue to pay attention to any possible breach in the system to fix it before it can be a problem, as they rather have a proactive stance than a reactive one. The team monitors the network all time and, if any user loses its fund via a system glitch, they will be 100% refunded.

Also, any user who believes that there is any security risk on the platform should contact the support team of the platform immediately and the case will be evaluated.

The Reaction Of The Community

Despite all the issues, the reaction on Twitter was fairly positive. Most users were relieved to be assured that their funds were not stolen. Some users, however, were a lit bit more critical than these ones. They affirmed that the exchange should have clarified the whole situation a lot sooner and that, this way, people would not need to become scared in the first place.

Another Twitter user complained that his funds were frozen, to which the exchange answered that, at the time, Bitcoin (BTC), Tether (USDT) and Ethereum (ETH) deposits were already being reopened.

Before the attack, the community was very nervous. People were reported to be looking at the blockchain to see if the exchange was hacked, as it remained silent for a long time before finally speaking up.

The situation got heated when a user found a large transaction and believed that it could have been a hack. However, it looks like the transaction was only from one of the company’s hot wallets to cold storage.

In related news, a recent study made by Bitwise Asset Management affirmed that over 90% of all crypto volume is fake. CoinBene was among the company which was considered the ones with a high fake volume.

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