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Binance disproves charges of hack with the help of blockchain

Binance, one of the biggest crypto exchanges by trading volume in accordance with CoinMarketCap, has had to constantly disprove charges of a hack since their exchange has surprisingly gone offline because of server problems.

The time offline was expected to last for several hours, but, similarly to the expanded Kraken delay of more than 2 days in January, Binance has since declared that they will only return on Feb. 9 at 4am (UTC) (11:00pm EST).

After Kraken was punished by its users for its relative hush and only sporadic update during its 48 hours of no service, both the Binance exchange and its CEO Changpeng Zhao have been updating their Twitters around every 2 hours with progress reports and affirmations that they have not been hacked:

Nevertheless, some on Twitter have repeatedly blamed Binance of covering up a hack, most noticeably crypto persona John McAfee, who tweeted that while he wasn’t “trying to spread FUD,” he’d been receiving multiple reports saying that Binance was definitely hacked

As a reply, Binance wrote that “Blockchain thankfully provides a public ledger that can disprove any FUD” and supplied their Ethereum wallet and Bitcoin wallet addresses to show that all money is there.

Also Zhao replied to McAfee by stating that he’d, “prove him wrong”:

At press time, both the Bitcoin and Ethereum storages supplied by Binance show positive balances of $263 mln and $151 mln worth of coins respectively.