The manager of Binance apologized for his recent talk of reorganizing Bitcoin

The manager of Binance apologized for his recent talk of reorganizing Bitcoin
Abstract

Changpeng Zhao, chief executive officer of the Swansea Bayans, on May 10 shared a report on the security of the currency exchange and a $ 40 million hack investigation this week that had a security impact with Cointelegraph.

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Changpeng Zhao, chief executive officer of the Swansea Bayans, on May 10 shared a report on the security of the currency exchange and a $ 40 million hack investigation this week that had a security impact with Cointelegraph.

The managing director of the exchange will apologize for being openly discussing the possibility of re-organizing the blockade or the rollback of the transaction as a possible response to the attack, causing concern among the community.

As reported earlier, on May 7, Bayan Bay Stock Exchange was subjected to a planned attack, which resulted in the withdrawal of 7,070 bits of queens (equivalent to $ 40 million at the time of the attack) from the hot wallet of this currency exchange and by The company's security system was not detected.

Hackers have used a variety of methods, such as phishing and virus, to capture a large number of 2FA codes and API keys along with other information.

Zhao said in his security update that he was limited to sharing details of many currency exchange reactions.

He further noted:

The hackers read every word we publish and monitor all AMAs (whatever you want to ask me about) that we host. Excessive detail sharing, in fact, undermines our security response strategy.

However, Zhao announced that the currency exchange team had made significant progress in reviewing its security measures, practices and practices. He predicts that some of these changes will be executed this week and will lead to much more changes in the future.




Changping Zhao pointed to changes in areas that were exploited by abusive agents, namely the APIs of the Beynes, 2FA and harvest validation.

He also acknowledged that the platform aims to improve risk management, user behavior analysis, customer recognition methods (KYCs), phishing counterfeiting tactics, and reviewing other security measures (access layer).

Given that I am talking a lot, sometimes I may use misconceptions, such as the dirty word of "reorganization," for which I apologize.

My heartfelt belief is that our eternal relationship is what separates us from the "old ways of doing things," especially in difficult times and times.

Earlier in a report, both during the live video after the hack and on the subsequent tweets, Zhao announced that the Beynes intended to respond by reorganizing the attack, but this idea was rejected.

In order to create a rollback in the bitcoin network and return transactions on this network, it requires a consensus among the major miniseries, extraction pools and members of the Bitcoin network, and collects more than 51 percent of the hash content available on the network.

Due to severe criticisms of such a move by members of the community and industry professionals, the Managing Director and the Exchange, withdrew their decision in light of the degradation of Bitcoin's credibility and undermining the principles of inelasticity and decentralization.

At the time of writing, the Biennese is ranked seventh in the world's largest exchanges with a 52.25% improvement in day-to-day trading volume.


Source: cointelegraph

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