Binance's exchange reopened the cryptocurrency trade on Friday morning after more than a day of system maintenance and rumors that it had become the last trading platform to succumb to a hack.
Binance Stock Exchange Next Daylong Downtime
Trade resumed at 10 am UTC, about six hours after the company said the platform would be operational again, and users had access to the platform an hour in advance to cancel orders in process and make deposits or withdrawals they need to make before trading reopened.
As CCN reported, Binance - the world's highest cryptocurrency exchange - was suddenly gone off-line on Wednesday, and the company has repeatedly extended the maintenance window, which it says comes from a failure in its replica database that required them to fully resynchronize their data.
In addition to the resumption of trading, the exchange announced that it would provide a 70 percent discount on all trading fees until February 24 and despite the inconvenience, the majority of social media users appeared happy the way the company had maintained constant communication with respect to downtime.
Exchange Proves Hack Fake Rumors
That said, the extended downtime leads to whispering that the exchange had been hacked, whispering that grew louder once John McAfee said "top CRYPTO influencers" were discussing whether the company's servers had been violated.
This would have made Binance the second major exchange to be hacked over the past three weeks, as the Japanese trading platform Coincheck fell prey to a historic $ 530 million hack at the end of January.
Binance and CEO Changpeng Zhao repeatedly denied the rumors, but McAfee's tweets stirred the pot. To prove the solvency, the company posted its wallet addresses so that users could verify that the funds had not been moved.
At the time of writing, users have reported the inability to access Binance through its primary domain address, which Zhao said was the result of a DDoS attack now resolved on the company's cloud provider that was still causing persistent problems. However, CCN was able to access both us.binance.com and kr.binance.com.
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