No Reorganization or Rollback after Binance Hack – Users to update 2FA code and API Settings

No Reorganization or Rollback after Binance Hack – Users to update 2FA code and API Settings

May 10, 2019 Off By Steven Anderson

While the usage of the blockchain technology in the cryptocurrency industry is meant to prevent reorganizations and rollbacks, there have been several stances which have led to reorganization or rollback.

After the recent hack, the tech team of Binance is mentally strong.  The Binance incident gets compared to the Bitfinex hack, which happened way back in 2016.  A rollback approach was then suggested for the 120,000 BTC hack.  However, the reorganization did not take place for potential consequences.

“Users are advised to change their passwords and to update their 2FA code and API settings.”

During January 2018, Facebook called for a complete ban on cryptocurrency and the related blockchain ads. In a recent blog post-Facebook published that after recently assessing the effectiveness of the policy, the company will “no longer require pre-approval for ads related to blockchain technology, industry news, education or events related to cryptocurrency.” However, users continue to be put in a requirement to get pre-approval for ads, which promote cryptocurrencies.

Despite, so many people working behind the blockchain technology supporting the different tokens, not all problems can be avoided accordingly.  This is whether for better or worse.

A losing position is often considered an insult to intelligence in the cryptocurrency market, and that is not the way it has to be.  The ups and downs in the market are natural events, which take place due to market sentiments.  These are not supposed to get to the investor’s attitude in a personal way.  Ups and downs in investments are used as an opportunity to expand the investments by hedging position in the cryptocurrency market.

Newer economic trends are popping up, and things change even before investors try to understand things.  Cryptocurrency is not only analyzed by market capitalization.  And, there is no cryptocurrency, which is too big to fail.

Information about cryptocurrencies is sought concerning recent ranks, price, and market capitalization. And the job of investors mostly revolves around whether one makes profits or loses.  It is only the investor who takes as much care of the money, and no one else does.

When new money does not come into the market, the volume goes thinner.  The boom-bust cycles are due to claims of price manipulation. The volume bars tell whether people are betting on the lower price or higher price. If the bulls are ruling, the buyers are in charge.  If the bears are ruling, the sellers are in charge.

Tokens typically hover in a particular price range before they rise or fall.  Investors are in the lookout for the price ranges upwards.