Don't Panic!! BINANCE is not Hacked - Here is what should you do?
blockchain·@ortorres1123·
0.000 HBDDon't Panic!! BINANCE is not Hacked - Here is what should you do?
**What happened to Binance? Is your crypto safe? Let's discuss!** <center> </center> <sub>[thenextweb.com](https://thenextweb.com/hardfork/2018/02/08/binance-calm-down-we-havent-been-hacked/)<sub> Hey guys, this is gonna address Binance’s downtime and how you need to think about things critically. First and foremost, **Binance has not been hacked**. Binance has not been DDoS. Binance has not exit scammed. Your cryptocurrencies are safe which is according to the CEO: >they experienced a server issue on their replica database cluster causing some data to be out of sync. They need to resync from the master and due to the size of the data, it will take several hours. <center> </center> <sub>[Binance](https://www.binance.com/?ref=11020513&gclid=EAIaIQobChMIpJzmi4qY2QIV2AQqCh205QAQEAAYASAAEgICm_D_BwE)<sub> Look, technology is a complicated thing. Binance has only been operating since July of 2017, so they're relatively new to the space. While you might think that having their server down for 24 hours is unforgivable? They have been very communicative with the community. They will reopen at an 11 p.m. Eastern time for Americans and 4 a.m. Universal Time for everyone else. Prior to trading coming back online, there will be a 30 minute window where you can cancel your previous orders. The Zendesk servers are still down probably because everybody has been freaking out but they're talking with them and they'll have them working as soon as possible. There's no mention of compensation as no exchange can guarantee 100% uptime. While it will be nice for them to save some face. I think their focus right now is getting the system back online before there is a consideration of compensation. Here's the thing, if you're freaking out about this it's because if one of two things, **you are either believing people who are intentionally misleading you** or **you have weights much crypto sitting on Binance and are panicking that you lost it.** <center> </center> <sub>[Twitter](https://twitter.com/search?q=%23login&lang=en)<sub> Let's address the first point, **don't believe the media hype and fun**. Think rationally for about one second here. The best place to source your info is from the source itself. If anyone claims to have insider info they're full of BS. Anyone who claims that Binance has been hacked is preying on your inhibitions. Why do I know this? Think about it for a second. Why would Binance be so communicative if they were covering up a hack? Why would they provide updates every two hours if they had lost your funds? Why would they be look to reopen the exchange with around 24 hours of downtime if they had been compromised if they had been hacked like Mt.Gox, they would be very shady, give vague updates and basically try to draw this out as long as possible like Mt.Gox did? Additionally, if they're trying to steal your funds like a bitconnect, there's way too many reasons that's a false narrative. Just think about the timing here. The market is near the all-time low for the year. If they wanted to make off like a bandit they would wait until the market recovers. Furthermore, the CEO was just featured on the cover of Forbes, they're killing it right now and there's no reason they’d exit scam while they're still getting capital and popularity. The people spreading false narratives want to freak you out because they can profit off your fear. If Binance opens its doors and everybody rushes in to sell, those people are gonna come in and scoop up a bunch of crypto at discounted prices all while saying *“thank you”* on their way out the door. So now let's address the second point. You're freaking out right now because you've got a bunch of crypto on Binance. If you've been around crypto world for a while, it's basically the catchphrase to say **exchanges are the least secure places to store your crypto and that's the truth** but I get it exchanges are convenient especially if you're a trader and you want to catch the swings. Binance has a ton of volume so a large amount of day traders hang out there. Look, I'm gonna level with you. I've got some funds on Binance as well. It might sound like I'm not following my own advice but really comes down to them not having good wallet options and it's a small enough amount that if I really did lose it I wouldn't be that upset. And here's the thing, I'm not at all concerned. The Binance’ staff is working hard and they're gonna get their platform back up tonight probably. If you're panicked right now, calm down. Don't be like the herd and sell your crypto the moment Binance comes back online because you'll probably lose out. If this is the first time you felt concerned that your crypto is lost, use it as an opportunity to learn and protect yourself against a future exchange hack. Get your crypto off the exchanges and you won't have to worry about the stuff anymore. As always guys do like some people does, **don't panic.** It's gonna be alright. <center> </center> <sub>[pixabay](https://pixabay.com/en/cat-funny-kratzbaum-paws-3092650/)<sub> So guys thank you very much for reading. If you enjoy this post, please hit UPVOTE, COMMENT & RESTEEM buttons. **Disclaimer**: Statements on this post do not represent the views or policies of anyone other than me. The information on this post is provided for discussion purposes only, and are not investing recommendations. Under no circumstances does this information represent a recommendation to buy or sell securities. I would like to thank @bobiecayao as my leader and @iwrite for giving me support to Steemunity affiliate of Steemit Diversify  