Cryptocurrency exchange Binance has confirmed it has completed a major system upgrade and will relaunch its trading platform at 13:00 UTC on May 15.
Binance, which lost over 7,000 BTC in a hack earlier this month, froze deposits and withdrawals altogether before a limited return to operations this week.
Now, Binance is preparing to open up full its previous suite of trading features, including deposits and withdrawals, for all users.
"Binance has completed its system upgrade and we will resume all trading activity at 1:00 PM," a new statement reads.
"From now until the commencement of trading, users will be able to cancel open orders, process deposits and use other account related functions. Please note that the withdrawal function will be available shortly after trading resumes."
Binance's hack caught the cryptocurrency community by surprise when it emerged $41 million of funds had gone missing from some user accounts.
Binance admitted liability for the attack, on Tuesday urging users to read and comply with a list of 14 security precautions to protect funds on the exchange.
As a form of compensation to users unable to use their accounts as normal, Binance also announced a giveaway scheme involving its in-house token, binance coin.
During a promotional period lasting through May 18, users trading over 1 BTC worth of funds will share in a prize pool of 50,000 BNB, to be credited two weeks later.
As Cointelegraph reported, fellow exchange Cryptopia, which lost around $17 million in January, this week halted trading as executives called in liquidators.
Binance Confirms Trading Relaunch for May 15 as Upgrade Completes
gepubliceerd op May 15, 2019
by Cointele | gepubliceerd op Coinage
Coinage
Recent nieuws
Alles zien
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.