Breaking News: Binance CEO Confirms Reports of DDoS Attacks, Assures Funds Are SAFU

CEO of Binance, Changpeng ‘CZ’ Zhao, confirmed the downtime experienced on Binance earlier on Wednesday, April 29, 2020. We reported an unconfirmed attack attempt on the Chinese domain of Binance, and now CZ confirms it was a targetted denial-of-service (DDOS) attack on the platform.

A Chinese user raised an issue on WeChat groups claiming the attacks on the site as they could not log in and were suspicious phishing attempts. However, the matter has since been resolved and the platform is back up running.

Binance CEO- Funds Are #SAFU

A tweet sent out by CZ, a few moments ago, confirms the exchange was targeted by DDoS attacks causing the system to lag and hence the interruptions caused. According to the report gathered by the exchange, CZ believes the DDoS attack attempt was most likely caused by the exchange’s competitors.

Earlier today, our Chinese domains experienced targeted DDoS attacks, and users saw some lag and interruption of network access.

Based on the attack pattern, it looks like work of our self-perceived competitors.

No need to be concerned. Systems are fine. Funds are #SAFU.

— CZ Binance 🔶🔶🔶 (@cz_binance) April 29, 2020

In his closing comments, Binance CEO and Founder assured users their funds remain safe. The development team has since worked on the systems, which are working fine. The community is reacting positively to CZ’s quick response to the matter.

If you were affected by the DDoS attack on Binance kindly share with us in the comment’s box below.

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