Binance (a crypto exchange) has partnered with decentralized Cred (a crypto lending platform based in USA) to bring its services to the Binance ecosystem. As part of the agreement, Cred will migrate some of its ERC-20 LBA tokens to Binance main net, Binance Chain, and become the official lending and borrowing platform for the decentralized financial ecosystem.
T-Labs (tech arm of German Deutsche Telekom) and Fetch.AI (a tech startup based in Cambridge) have joined hands with motto to develop a decentralized Internet of Things (IoT) network innovations by signing a a memorandum of understanding (MoU). Toby Simpson, Co-founder of Fetch.AI said, “This memorandum of understanding further reinforces our commitment to work closely and combine our expertise and experience to bring this to reality sooner than any of us had previously imagined.”
The Binace crypto exchange has suffered a loss of US$40 million in a recent hacker attack. The company’s CEO Changpeng ‘CZ’ Zhao took it to twitter that all supports will be supplanted from their expanding reserve of Bitcoin. From his tweet: “Thanks for the support, really appreciate it. But currently no need. We will cover the loss from the SAFU fund, there is enough. We are hurt, but not broke.”
An academic credential verification platform based in Australia, TrustED has associated with Binance crypto exchange to launch its ICO on the Binance Chain. Kosta Batzavalis, CEO of TrustED said, “Being one of the first projects on Binance Chain is not only an honor but also a massive stepping stone for the TrustED project. With Binance technology behind us, TrustED can deliver on SLAs and security requirements necessary to make a blockchain-based academic solution enterprise-grade.”
In a tweet post, CZ noted that during a trading halt, they will update no less than 2 hours, as per usual. The post also states that once the upgrade is complete, they will make a further announcement and provide users with a 30-minute window to cancel orders, process deposits, withdrawals, and use all other account related functions before trading resumes. The Binance team have largely kept details of the light of their post-hack actions.
Binance CEO Changpeng Zhao has announced that the crypto exchange plans to resume deposits and withdrawal services. Binance announced the breach last week, saying that unnamed hackers made off with 7k BTC from the exchange. They have made some significant overhauls to our system, with a large number of advanced security features added and/or completely re-architected. They will share details on some of the changes later. They aim to fully resume deposits and withdrawals on Tuesday.
Changpeng Zhao (CZ), CEO of major crypto exchange Binance, has decided to use Twitter to address community concerns in the wake of $40.7 million hacks. The CEO revealed that the exchange had considered but decided against responding to the hack with a so-called blockchain re-org approach: i.e. aiming to incentivize miners to form a consensus to wield 51% of the network hashing power to reorganize the blockchain transactions after the loss.
One of the biggest cryptocurrency exchanges in the globe has become the latest victim to hackers modus operandi. The company disclosed that Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info using variety of techniques, including phishing, viruses and other attacks. They have obtained hold of 7000BTC (Bitcoins worth about $40 million) in a single transaction.
An aviation blockchain project named Aeron (ARN) which was developed in preventing flight logs from being falsified and altered have shared that they will be adopting Binance Chain its BEP2 token standard. The Aeron Team explained, “We are excited with this progression of our long term partnership with Binance, and looking forward to continued success and many new milestone achievements together.”
The CEO of Binance Changpeng Zhao in a response to a Twitter user who suggested the exchange should launch a stablecoin suggests he is considering launching one. The Twitter user said a stablecoin from Binance would become a major token on the Binance blockchain and there is no reason why the exchange shouldn’t launch one. Though it has its own successful crypto Binance Coin (BNB) dubbed as new Bitcoin, they hope with stable value users can pay for goods and services.