{"id":572225,"date":"2022-06-08T19:50:24","date_gmt":"2022-06-08T18:50:24","guid":{"rendered":"https:\/\/en.ethereumworldnews.com\/?p=572225"},"modified":"2022-06-08T19:50:33","modified_gmt":"2022-06-08T18:50:33","slug":"binance-halts-deposits-and-withdrawals-of-egld-to-investigate-potential-security-issue-on-the-elrond-network","status":"publish","type":"post","link":"https:\/\/en.ethereumworldnews.com\/binance-halts-deposits-and-withdrawals-of-egld-to-investigate-potential-security-issue-on-the-elrond-network\/","title":{"rendered":"Binance Halts Deposits and Withdrawals of EGLD to Investigate Potential Security Issue on the Elrond Network"},"content":{"rendered":"
Key takeaways:<\/p>\n
Binance<\/a>, the number one digital asset exchange in terms of trade volume, has announced that it has stopped<\/a> the deposits and withdrawals of EGLD to investigate a potential security issue on the Elrond Network. The pause in the movement of EGLD to and from Binance was effected on the 6th of June as the team at Elrond worked towards resolving the issue.<\/p>\n Binance will resume deposits and withdrawals once the Elrond (EGLD) network is secure.<\/p>\n The pausing of deposits and withdrawals of Elrond on Binance comes in the wake of news of a potential hack<\/a> that resulted in the loss of $1.65 million EGLD. The stolen digital assets were reportedly immediately sold on the Maiar Decentralized exchange causing a 92% drop in the value of EGLD on the platform.<\/p>\n The founder and CEO of Elrond, Beniamin Mincu, has since issued an update on the situation via Twitter<\/a>.<\/p>\n 1\/ New Elrond and Maiar DEX update.<\/p>\n All hands on deck.<\/p>\n Getting close to enabling DEX frontend and API send function.<\/p>\n Amazing progress and support from the community.<\/p>\n Here's the current status and next steps.<\/p>\n — Beniamin Mincu \ud83d\udd25\ud83c\udf13 (@beniaminmincu) June 7, 2022<\/a><\/p><\/blockquote>\nReports of a $1.65 Million Hack on the Elrond Network.<\/h2>\n
Elrond Team Issues Update on the Situation.<\/h2>\n
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