There exist slamming reports after slamming reports of hackers stealing billions from exchanges, yet users still opt for convenience over security. Maybe now that powerhouse Binance has become the latest target of a 7000 BTC hack, users will finally wake up. Get a cold storage wallet for your private keys! 

7000 BTC Hack in Just One Transaction

According to an update posted late yesterday on the Binance helpdesk, the exchange became aware of “a large security breach.” Hackers obtained 2FA codes, API keys, and (rather ominously) “potentially other info.”

How is it possible that the best-known cryptocurrency exchange globally with some of the top talent in the world could be hacked? This latest breach serves to highlight that no exchange is exempt from hacking. Users need to wake up and take the time to store their private keys correctly in cold wallets.

According to the post, the hackers used phishing, viruses, and various other forms of attacks that the company is still exploring. Thus far, the movements have been…

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