Bitcoin Exchange Coinbene Swears it Wasn’t Hacked: Traders Fear the Worst
Another major cryptocurrency exchange has gone dark, and bitcoin traders once again fear that it is using “maintenance” to cover up a crippling hack.
This time, the medal goes to CoinBene, one of the largest cryptocurrency exchanges according to CoinMarketCap.com. Per self-reported data, the platform enjoys over $780 million in daily trades through assorted cryptocurrencies including bitcoin, bitcoin cash, litecoin, and monero.
Is CoinBene Trying to Cover a Hack?
When services were down, and users began noticing extended delays while withdrawing and depositing funds, they instantly feared the worst. Thoughts that the company had somehow been exploited or potentially compromised by a cyberattack caused many to reach out for help, though executives initially claimed that the slow service was the result of “maintenance.”
In an official announcement, the exchange told its customers:
User assets on the CoinBene platform are 100 percent secure. Our platform promises that if any user assets will be lost, we will compensate 100 percent [sic]. […] The CoinBene security team monitors any anomalies at all times and will issue a warning the first time to prevent any possible risks.
Unfortunately, this news isn’t swaying everyone, as analysts are alleging the company has incurred losses of nearly $45 million due to a possible malicious attack. Some are suggesting that roughly $6 million was stolen in CoinBene Coin, while $39 million was stolen in Maximine Coin. The funds are also alleged to have been dumped on the market.