Binance hacked for 7000BTC; user funds safe – May 8

📈 30 Second Price Summary

Current Bitcoin Price$5921

The cryptocurrency market is down 0.8% today. Bitcoin, Ethereum, and XRP are down by 0.2%, 2.5%, and 0.65, respectively. Most altcoins are indeed down a few percent, but the worst performers include Binance Coin (down 5.7%), Stellar (down 3.9%), and Cosmos (down 6.8%).

Top Stories for 8th May 2019 🔥

👉 Binance hacked for 7000BTC; user funds safe

Binance is the world’s largest cryptocurrency exchange, by volume. It’s a favorite of many amateur cryptocurrency traders and investors thanks to its wide range of altcoins and competitive trading fees.

Unfortunately, Binance has been hacked for around 7000 Bitcoin worth of currency. This amounts to about $40 million dollars. Users’ funds are however safe, thanks to Binance’s SAFU fund for these kinds of situations.

👉 Microsoft releases Ethereum blockchain dev kit

Microsoft Azure is Microsoft’s cloud computing platform, which is used by a whole host of organizations in a similar way to Amazon Web Services — a more popular alternative.

Today, Microsoft released Azure Blockchain, which is their Ethereum-friendly blockchain development kit. It’s an extension to Visual Studio Code, a cross-platform development suite.

👉 Bitfinex users unable to withdraw fiat

Bitfinex has been going through quite a bit of trouble lately. What with missing funds and the whole Tether scandal, it’s amazing it hasn’t yet blown up.

With Bitcoin having traded at a several hundred dollar premium for more than a week, Bitfinex now has a new issue. Many of the exchange’s users are reporting they are not able to withdraw their fiat currencies from the exchange.