Share this article
'All Funds Are Safe': Binance Denies Crypto Hack Rumors
Binance has reassured customers their money is still in their accounts after hours of speculation that the cryptocurrency exchange had been hacked.
By Nikhilesh De
Updated Sep 14, 2021, 1:54 p.m. Published Mar 7, 2018, 7:30 p.m.
UPDATE (7, March 23:55 UTC): In another update, Binance CEO Changpeng Zhao announced that all irregular trades have been reversed, saying the hackers actually lost some funds as a result.
UPDATE (7, March 20:10 UTC): Binance CEO Changpeng Zhao tweeted that the irregular trades have been identified, and will be reversed. He also warned users to learn how to secure their accounts against future phishing attacks.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Binance has reassured customers that their money is still in their accounts following hours of speculation that the cryptocurrency exchange had been hacked.
"All funds are safe," Binance chief executive Changpeng Zhao tweeted Wednesday afternoon.
Rumors that Binance has been hacked spread that morning after social media users reported seeing their balances at the exchange drained, sold at market rates and converted to viacoin. However, the exchange said its platform was not breached.
https://twitter.com/cz_binance/status/971454040704872448
In its initial statement on Reddit, Binance said it was investigating these reports, announcing all withdrawals had been suspended but pushing back against claims that the platform was hacked.
“As of this moment, the only confirmed victims have registered API keys (to use with trading bots or otherwise). There is no evidence of the Binance platform being compromised,” the post said. “Please remain patient and we will provide an update as quickly as possible.”
Discussion on Reddit indicated that investors using trading bots may have fallen victim to stolen API keys, but it is unclear how widespread the issue was.
Viacoin became one of the few cryptocurrencies to rise on the day, jumping more than 40 percent to $3.53, according to data site CoinMarketCap. Similarly, it saw a tenfold spike in trading volume on the day, beginning at roughly the same time as the hack rumors.
Meanwhile, bitcoin has recovered from its intraday low of less than $9,500 to about $9,675 as of press time, and prices appear to have stabilized according to CoinDesk's Bitcoin Price Index (BPI).
Editor's note: This article has been updated with new information.
Safe image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Tom Lee responds to controversy surrounding Fundstrat’s differing bitcoin outlooks
A debate on X over seemingly conflicting bitcoin forecasts from Fundstrat analysts drew a response from Tom Lee, highlighting differing mandates and time horizons.
What to know:
- X users flagged what appeared to be conflicting bitcoin outlooks from Fundstrat’s Tom Lee and Sean Farrell.
- Lee endorsed a post arguing the views reflect different mandates and time horizons, not internal disagreement.
- The episode highlights how public commentary can blur distinctions between short-term risk management and long-term macro views.
Top Stories
