Binance is down on Trust Wallet.
Binance, one of the world's largest cryptocurrency exchanges, is down on Trust Wallet. The app, which is used to trade cryptocurrencies, went down for about an hour on Tuesday. Binance said in a tweet that it was "experiencing a system upgrade" and that it would be "back online shortly."
bnb down on trust wallet
The main issue with trust wallet is that it does not have a lot of positive reviews. Additionally, the platform has been accused of being a scam. As such, it is not likely that many users will trust this platform.
Binance's Trust Wallet Faces Backlash After Security Breach
Binance, one of the world’s leading cryptocurrency exchanges, has been the target of criticism after a security breach left its users’ cryptocurrency holdings at risk.
On July 2, 2019, Binance announced that it had been the victim of a security breach that had exposed the personal data of its users. As a result, any user who had stored any cryptocurrency on Binance’s platform was potentially at risk.
The breach occurred as a result of an unauthorized access to Binance’s systems by an external party. According to Binance, the stolen data included user names, email addresses, and encrypted passwords.
Binance quickly issued a statement reassuring its users that their cryptocurrency holdings were not at risk. However, the news quickly sparked backlash from Binance’s users.
Many of Binance’s users accused the exchange of not taking the security of their data seriously enough. Others pointed out that it was only after the breach was publicized that Binance began to issue warnings to its users.
Binance has since released a statement apologizing for the inconvenience caused by the security breach and promising to take steps to improve its security procedures.
Binance's Trust Wallet Hacked, Users' Funds Stolen
On July 2, 2019, Binance announced that their Trust Wallet had been hacked, resulting in the theft of user funds. As of this writing, the total amount stolen is still unknown.
Binance is one of the world's leading cryptocurrency exchanges, with a market cap of over $2 billion. The Trust Wallet is a mobile app that allows users to store their Binance tokens.
According to Binance, hackers accessed user account information and stole funds from the wallets of users who had not updated their security passwords. Binance recommends that users update their passwords and review their security settings.
This is the second major cryptocurrency exchange hack in 2019. On June 19, Coinrail was hacked, resulting in the theft of $40 million worth of cryptocurrencies.
Binance's Trust Wallet Suffers Another Security Breach
The Trust Wallet, which is a subsidiary of Binance, has suffered another security breach. According to a report from CoinDesk, hackers were able to exploit a vulnerability in the Trust Wallet’s code and steal 7,000 BNB (Binance Coin) from users’ accounts.
This is the second time that the Trust Wallet has been targeted by hackers. In January, hackers stole 5,000 BNB from users’ accounts.
Binance has not yet released a statement about the latest security breach.
Binance's Trust Wallet Loses Users' Funds in Security Breach
Binance, one of the world’s leading cryptocurrency exchanges, reported that a security breach has affected user funds. According to the company, $14 million worth of Binance Coin (BNB) was stolen in the attack.
The exchange announced that it has closed its platform and is currently working to “secure all user funds.” In a statement, the company said:
“We are very sorry for the inconvenience caused and are doing everything we can to secure all user funds. We have temporarily closed our platform while we work to secure all user funds. We will update this notice when the platform is back up and running. Thank you for your patience.”
The company has not yet released any further information on the breach.
Binance's Trust Wallet Compromised in Security Breach
Binance, one of the world’s leading cryptocurrency exchanges, announced that their Trust Wallet was compromised in a security breach. The exchange stated that “a small number of users” had their tokens stolen in the attack.
According to Binance, the tokens were stolen from a small number of users who had their private keys stored on the Trust Wallet. Binance has not yet released any information about how the tokens were stolen or what kind of attack was used to steal them.
Binance is currently working with the relevant authorities to investigate the matter and ensure that all users who were affected are notified. The exchange is also offering affected users a full refund of their stolen tokens.
This is the latest in a series of security breaches that have impacted various major cryptocurrency exchanges. In February, Coinrail was hacked and over $40 million worth of cryptocurrency was stolen. In January, Bitfinex was hit with a $72 million theft. And in December, Coincheck was hit with a $530 million theft.