Tuesday, May 17, 2022
HomeExchangesCoinBene Goes into ‘Unscheduled Maintenance; Ignores Hack Rumors

CoinBene Goes into ‘Unscheduled Maintenance; Ignores Hack Rumors

Once again, a crypto exchange allegedly suffered a cyber attack while others point towards a possible exit scam.

CoinBene crypto exchange claimed on its official Twitter account that it was undergoing maintenance, likely a preemptive hint that it had fallen victim to a hack.

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Anxious traders responded to the company Tweet in the hope that the exchange had not been hacked and no balances were lost. Some clients who reported that their deposits were pending for hours were reassured by the company:

CoinBene didn’t comment on hacking rumors but explained that it would announce in a separate statement when the maintenance has been completed. The crypto venue also confirmed all related operations such as deposit, withdrawals, trading would not be affected.

The news came up right after a study from San Francisco based Bitwise Asset Management claimed that unregulated exchanges like CoinBene inflate trading volume compared to regulated exchange like Coinbase. The study concludes that nearly 95% of all reported trading in bitcoin is artificially created.

CoinBene is currently sitting as one of the top 20 crypto exchanges worldwide. According to CoinMarketCap, it has over $580 million in 24-hour trade volume and ranked currently as the 15th biggest crypto exchange.


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