BNB sides with bulls as Binance adopts safety measures to combat DeFi hacks

ambcrypto.com:

The world’s largest cryptocurrency exchange, Binance was at the center of a sensational $570 million hack in October last year.

Hackers exploited a bug in the BNB chain’s smart contract and transferred about 2 million tokens into their wallets. Following the hack, Binance had to immediately suspend withdrawals and deposits.

One of the biggest breaches in the crypto space, the incident raised questions on the security of decentralized finance (DeFi). But the question is- Have corrective measures been taken?

Read Binance Coin [BNB] Price Prediction 2023-24

On 5 March, Binance announced that it will partner with law enforcement agencies worldwide to combat crypto-related scams.

The exchange said that it launched the Joint Anti-Scam Campaign which will include sending alerts, crime prevention messages, and other helpful tips whenever users initiate a withdrawal on Binance.

The exchange added that it started this campaign with Hong Kong first and the project showed good results.

— CZ