• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news

Crypto Exchange CoinBene Denies Hacking Rumors Amidst Disturbing Trend

Cole Petersen by Cole Petersen
2 years ago
in Cryptocurrency news
Reading Time: 2min read
Crypto Exchange CoinBene Denies Hacking Rumors Amidst Disturbing Trend
Advertisement

The fully digital and nascent nature of the crypto markets has made exchanges major targets of nefarious actors, and news of exchanges being hacked has plagued the markets since their early days, starting with the notorious Mt. Gox hack that sent shockwaves through the entire crypto industry.

As of late, there seems to be a growing trend of smaller and less well-known crypto exchanges falling victim to devastating hacks, with DragonEx being the latest victim. Now, CoinBene is the latest exchange that has been rumored to be hacked, although the platform is continuing to deny the rumors.

Has CoinBene Fallen Victim to Hackers?

Rumors surrounding CoinBene potentially being hacked first surfaced yesterday when the exchange responded to a user who claimed in a tweet that a deposit he initiated had been stuck in pending for over an hour, which led him to believe that the exchange was hacked.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

CoinBene quickly responded to this user, explaining that they had put wallets under maintenance in order to upgrade the platform, which had an effect on deposits and withdraws.

“In order to enhance the user experience, CoinBene upgraded the platform wallet on March 26, 2019. During maintenance, it will affect related operations such as deposit and withdraw, trading will not be affected,” the exchange explained.

In order to enhance the user experience, CoinBene upgraded the platform wallet on March 26, 2019.
During maintenance, it will affect related operations such as deposit and withdraw, trading will not be affected.

— CoinBene Global (@CoinBene) March 26, 2019

Shortly after this tweet was made, speculation regarding the state of the exchange surfaced, with Nick Schteringard, a reporter at Russian crypto media site Forklog, noting that there was some strange activity on multiple user’s Ethereum wallets.

“Some strange activity spotted on #Coinbene. Users report that #ETH wallets were hacked and attach these two addresses,” he explained, referencing two wallet addresses that reportedly had signs of suspicious trading activity.

Some strange activity spotted on #Coinbene. Users report that #ETH wallets were hacked and attach these two addresses. https://t.co/f5NxvfscSC https://t.co/S1WnwI8CUx #bitcoin #exchange

— Nick Schteringard (@schteringard) March 26, 2019

CoinBene Denies Rumors, Claims Wallet Upgrade Was in Response to Other Crypto Exchanges Being Hacked 

In a notice today, the crypto platform explained that their sudden and unexpected wallet upgrade was not the response to an attack on their platform, but as rather a precautionary action taken in response to the news of other exchanges being hacked.

They added that “assets on the CoinBene platform are 100% secure,” and promised that they will fully compensate any users who may lose any funds in the future.

#Announcement ‼
Somebody doubt CoinBene was attacked by hacker recently because our maintenance.
We CoinBene are so sorry that made everyone worried for this problem.
Truth is ? pic.twitter.com/2P8Ulwjj6C

— CoinBene Global (@CoinBene) March 27, 2019

Although there is little conclusive evidence that CoinBene was hacked, their lack of communication regarding wallet maintenance, and their somewhat incoherent responses to the rumors certainly gives reason for concern.

This, combined with yesterday’s news regarding the Singapore-based cryptocurrency exchange DragonEx being hacked, brings to the surface an important question: why would investors use small platforms to trade crypto?

Although hacks are a threat to all cryptocurrency exchanges, regardless of their size, the larger and more reputable platforms tend to utilize better security features – including cold storage solutions – which reduces the risk investors take by leaving their crypto holdings in wallets on the platform.

Featured image from Shutterstock.
Tags: bitcoincoinbenecryptohacks
TweetShare17
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

bitcoin collateral

Summing Up The Case For Bitcoin As The Future Of Collateral

1 hour ago
Algorand, OKEx

OKEx Announces Support for USDT and USDC Stablecoins on the Algorand Blockchain

8 hours ago
hashbon

How to Get 0% Commission for Accepting Crypto Payments – Meet Hashbon and Its Native Token

8 hours ago
payment gateway

Open Source vs. Ready-Made Payment Gateways: Which Crypto Processing Option Is Easier to Implement

9 hours ago
Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

Bitcoin Hopes to Retest Record Highs After Powell’s Testimony; Here’s Why

13 hours ago
coinsbit

In Honour of Coinsbit 3rd Anniversary, the Exchange Is Launching a Unique Staking Pool With 30 Bitcoins up for Grabs, Tickets to the Maldives and More

14 hours ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Oxygen Protocol to List OXY Tokens on BitMax

February 24, 2021

HOPR Hosts Global Token Launch Event on February 24th after First-Of-Its-Kind DAO Experiment

February 24, 2021

Egoras- a Decentralized Finance Ecosystem for Growing Markets!

February 23, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.