Binance Co-Founder and Former CEO Offer Support Amid ByBit's $1.4 Billion ETH Hack
Following Bybitโs confirmation of a $1.4 billion Ethereum (ETH) security breach, Binance executives have extended their support, reinforcing the industry's collaborative stance on security.Bybit CEO Ben Zhou revealed that the exploit was executed through a masked UI attack on a multisig cold wallet transaction. The attackers manipulated the signing process to alter the smart contract logic, gaining control over the wallet and transferring its ETH holdings to an unknown address. Despite the breach, Zhou assured users that all other cold wallets remain secure and withdrawals are operating normally.Binanceโs Immediate ResponseYi He, Binanceโs co-founder, was quick to offer assistance, stating, "We are here when you need."ย Former Binance CEO CZ also weighed in, suggesting a proactive security measure to prevent further potential risks. "Not an easy situation to deal with. Might suggest to halt all withdrawals for a bit as a standard security precaution. Will provide any assistance if needed. Good luck!"ย ๏ปฟย
$PEOPLE /USDT Short ๐ด๐ด 20X ENTRY : Market Price TP : 25% to 400% NOTE : Keep Risk management and use only 3 % of your wallet $PEOPLE $ETH #ETFEthereum #ETHETFsapproval #pizzaday
$PEOPLE /USDT Short ๐ด๐ด 20X ENTRY : Market Price TP : 25% to 400% NOTE : Keep Risk management and use only 3 % of your wallet $PEOPLE $ETH #ETFEthereum #ETHETFS #pizzaday
$PEOPLE /USDT Short ๐ด๐ด 20X ENTRY : Market Price TP : 25% to 400% NOTE : Keep Risk management and use only 3 % of your wallet $PEOPLE $ETH #ETFEthereum #ETHETFS #pizzaday
Attention ๐ฏ๐ฅฐ ๐Entering the crypto world can be exciting, but it's crucial to understand the risks involved before diving in. Here's some advice for new Binance traders to navigate the crypto industry's risks: ๐Education is key: Learn the basics: Educate yourself on cryptocurrencies, blockchain technology, and different trading strategies. Research coins: Don't blindly invest. Research the cryptos you're considering to understand their potential and risks. Manage your risk: ๐Start small: Begin with a small amount you can afford to lose. Crypto is volatile, and even established projects can experience price swings. Stop-loss orders: Utilize stop-loss orders to automatically sell your holdings if the price falls below a certain point, limiting potential losses. Diversification: Don't put all your eggs in one basket. Spread your investments across different cryptocurrencies to reduce risk. Stay calm and collected: ๐Emotions and trading don't mix: Avoid making impulsive decisions based on fear or excitement. Stick to your trading plan. Long-term view: Crypto markets can be volatile. Focus on long-term goals and don't expect to get rich overnight. Practice and learn: โญ๏ธDemo account: Many platforms, including Binance, offer demo accounts with simulated funds. Use them to practice trading strategies before risking real money. Learn from mistakes: Analyze your trades, both successful and unsuccessful, to identify areas for improvement. Additional tips: ๐Stay informed: Keep up with crypto news and events that can impact the market. Security first: Be extra cautious with your Binance account security. Remember, crypto trading is inherently risky. By educating yourself, managing risk wisely, and staying calm, you'll be better equipped to navigate the crypto industry.๐ฏ๐ฏโผ๏ธ
#IMPORTANT: Crypto is a mind Game .....cowards and less patient people always loose.... remember some tips.....(for New comersl 1. never go for future trade 2.do spot trade only 3.always use amount which you think is extra and you can bear it's lose ... 5.never sell in lose even if you have to wait for 5 years .... 6.buy at dumps 7.every time is not trading time.... 8.patience is the key . 9.crypto is cyclic $BTC $ETH $SOL