$105M Exits Coinbene, and Claimed No Hack

The cryptocurrency exchange Coinbene has recently been under maintenance. This maintenance also coincides with the fact that $105M quickly exited the exchange and was promptly sent to Etherdelta where it was sold for ETH. After exchanging, a large number of funds were then quickly moved to centralized exchanges like Huobi, Binance, and Bittrex.

I don’t know about you, but if I were a Coinbene user, I would be pretty nervous. This sure looks like a hack to me. What could possibly explain this? Coinbene that the website is down only for maintenance. The good thing is that they have opened up withdrawal for major coins like BTC, USDT, ETH, LTC, and MXM. It’s quite possible an attack could have happened with other coins. It will be interesting to see how they can explain the exit of funds. This wouldn’t be the first time an exchange tries to cover up the tracks. For the users of Coinbene with funds still frozen, let’s hope it is the latter.

This is just more reasons that you should never keep your crypto on exchanges unless you are actively trading. Keep your funds in a Trezor or Ledger!

Source from: https://web.cbnt.io/article/15538318957781