After the recent hack at Binance, the firm had pledged to its customers to increase the firm’s security architecture.
Binance’s CEO recently informed customers that deposits and withdrawal services would be restarted as early as next week when a user asked how long it would take for the deposit/withdraw suspense to be over?
Twitter user @CryptoVanessa asked:
“Hey @cz_binance how long till the deposit/withdraw suspend is over? @binance #Binance.”
Balance CZ replied that:
“We are aiming for the early part of next week, better safe than sorry this time. Please bear with us. Your understanding is much appreciated. 🙏🙏🙏”
Even though BTC, the mother of all crypto is gaining ground every day. The revolutionary crypto is edging closer to crossing the $7k mark in coming days. Binance BNB saw red for the first time in a long time recording negative gains at 6.6%.
Reports have it that customers are getiing restless as they want a better return on their investment. What they have to do to see gains is they have to buy more BNB and depositing more BTC in return.
In response to the CEO, one of the respondents on Twitter requested that Binance speed up their security upgrade in order for customers to being depositing BTC.
The CEO also replied:
“Working on it, day and night.”
Until the recent hack, Binance was said to have an “unhackable” security system according to the CEO. After the hack, the firm promised its users that it had revamped the exchange’s entire security, practices and procedures.
“Significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident.”
After the breach, BNB experienced a dip in price, but the recent surge in the cost of BTC saved the alt-coin from going down further. As at press time today, the current market cap value of BNB valued at $20.52 is $2.89 billion. There were also reports that the trading volume in the past 24-hours was $234.74 million which fell from 10.51% in the past week.
However, the cryptocoin made some remarkable recovery by managing to register a growth of 6.03% on Saturday and gaining 1.09% within an hour.
With operations said to resume in earnest, holders can now begin trading with BNB. There is optimism that the largest cryptocurrency exchange in the world will gain its market share which it lost in the past few days due to the inevitable bearish decline that followed after the hack.