{"id":20104,"date":"2019-05-14T13:39:40","date_gmt":"2019-05-14T13:39:40","guid":{"rendered":"http:\/\/ci027cfe7860082697"},"modified":"2019-05-14T13:39:40","modified_gmt":"2019-05-14T13:39:40","slug":"following-hack-binance-plans-system-upgrade","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/culture\/following-hack-binance-plans-system-upgrade","title":{"rendered":"Following Hack, Binance Plans System Upgrade"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div><figure><img decoding=\"async\" src=\"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/binance-announces-significant-security-changes-following-hack.jpg\" title=\"\"><\/figure>\n<p>Popular cryptocurrency exchange Binance will be conducting a system upgrade on May 15, 2019, in the wake of a $40 million <a href=\"https:\/\/bitcoinmagazine.com\/articles\/binance-hacked-40m-ceo-backpedals-recoup-block-reorganization\">hack<\/a>.<\/p>\n<p>Per an <a href=\"https:\/\/binance.zendesk.com\/hc\/en-us\/articles\/360028054052\" target=\"_blank\" rel=\"noopener\">announcement<\/a> that was published on the exchange\u2019s blog, the scheduled system update will affect all transactions on the platform for about 6 to 8 hours. However, it also noted that the time needed for this upgrade to complete might vary.<\/p>\n<p>This latest notice follows an <a href=\"https:\/\/bitcoinmagazine.com\/articles\/binance-announces-significant-security-changes-following-hack\">announcement<\/a> from Changpeng \u201cCZ\u201d Zhao, the exchange\u2019s CEO, published on May 10, 2019. In that report, Zhao stated that Binance planned to implement significant changes to its security infrastructure, including to its withdrawal validation, application programming interface (API) and two-factor authentication (2FA) process, following the <a href=\"https:\/\/bitcoinmagazine.com\/articles\/binance-hacked-40m-ceo-backpedals-recoup-block-reorganization\">security breach<\/a> which led to the theft of about 7,000 BTC tokens (worth about $42 million at the time). Following those changes, CZ wrote that Binance was looking to resume withdrawals and deposits early this week, so the planned upgrade for tomorrow appears to extend past his optimistic deadline.<\/p>\n<p>Given the magnitude of the security breach, it\u2019s understandable that the exchange would be taking all precautions to ensure users\u2019 security, even if doing so takes more time than they may have hoped.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Popular cryptocurrency exchange Binance will be conducting a system upgrade on May 15, 2019, in the wake of a $40 million hack.<\/p>\n","protected":false},"author":3435,"featured_media":20105,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[33],"tags":[826,2606],"class_list":{"0":"post-20104","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-culture","8":"tag-binance","9":"tag-hacks"},"author_data":{"id":3435,"name":"Jimmy Aki","nicename":"jimmy-aki","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/jimmy-aki-promo-image-96x96.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/binance-announces-significant-security-changes-following-hack.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20104","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3435"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=20104"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/20104\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/20105"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=20104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=20104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=20104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}