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Binance Revamps Withdrawal Security After $41M Bitcoin Theft

Published 05/10/2019, 07:25 AM
Updated 05/10/2019, 08:42 AM
© Reuters.   Binance Revamps Withdrawal Security After $41M Bitcoin Theft

Binance will revamp its user API and 2FA, with special care on withdrawal oversight, announced CEO Changpeng Zhao in a recent commentary regarding the most serious hack for the exchange so far.

“We are making significant changes to the API, 2FA, and withdrawal validation areas, which was an area exploited by hackers during this incident. We are improving our risk management, user behavior analysis, and KYC procedures. We are working on more innovative ways to fight phishing. We also have a number of additional security measures being implemented not directly visible on the front end,” announced Zhao.

Binan...

This article appeared first on Cryptovest

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