Community and Market respond to the Binance hack announcement

08 May, 2019
by David Borman
Community and Market respond to the Binance hack announcement

As the whole crypto community is still reeling from the news that Binance suffered a 7,000 BTC hack, voices on twitter have come out both to condemn and support the exchange. This all comes as the price of Bitcoin took a dip on the news, only to still hold above $5,700, at least at the time of this writing.

Some of course have come out to malign the exchange and generally spread negativity about this event, though it is understandable many would be concerned:

Some pointed out that it was a bit early to claim to know exactly what the fallout of this will be, or what Binance should have done:

There were those who seemed confused or who were pushing odd narratives:

And of course, some were supportive to Binance, or at least calling for a reality check to those freaking out:

One highly optimistic sign is that the price of Bitcoin managed to hold above $5,700 even after the news broke, implying that at least investors aren't overly panicking from this turn of events.

BTC/USD Chart provided by Tradingview

It is still not clear if there will be further fallout from this event, as new information may come to light as Binance performs a complete security check and investigation, but for now it looks like the price of BTC will remain strong. Stick right here with Chepicap for all updates as this event unfolds and new information is made available!

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