- Elrond had been attacked the previous day, resulting in a drastic drop in EGLD.
- CEO Beniamin Mincu assured users that things would fall in place soon.
- All funds and users are safe.
Cryptocurrency exchange Binance has announced that a potential security issue has caused them to suspend deposits and withdrawals on Elrond (EGLD).
Sharing the update, the below-mentioned statement was made on the subject:
We are working with the Elrond team to resolve the issue. We seek your understanding in this matter. Once we are satisfied that the network is secure, we will restart deposits and withdrawals on the Elrond (EGLD) network and will not notify users with another announcement. More updates on this topic can be found at @ElrondNetwork. We apologize for any inconvenience caused.
Binance shared the news through an official tweet:
Deposits & withdrawals on @ElrondNetwork $EGLD are temporarily suspended. https://t.co/loSNeORPLA
— Binance (@binance) June 8, 2022
Once the network is secured, Binance will reopen both deposits and withdrawals and notify the users.
Also Read: $360,000 (200 ETH) Worth of NFTs Stolen From BAYC’s Discord Server!
Elrond Network was hacked the previous day, which resulted in an extreme drop in EGLD. Coming forward, the team shared that the rescue operation is in full swing.
CEO Beniamin Mincu said they are working with exchanges such as Binance to re-enable withdrawals and deposits.
8/ Sixth, we are working in close contact w/ Binance & some of the other exchanges around the world, to re-enable EGLD deposits and withdrawals.
All this should be available in the next couple of hours.
Very much appreciate all their support during these hard times.
— Beniamin Mincu 🔥🌓 (@beniaminmincu) June 7, 2022
According to his recent tweet, the recovery is complete, and the team is currently monitoring everything.
Maiar DEX full recovery is complete.
The DEX is now live. APIs are live. Exchanges are live.
*All funds are safe, all users are safe.*
Carefully monitoring everything during the next hours.
Super though 48 hours. Amazing efforts and support from the team, community, partners.
— Beniamin Mincu 🔥🌓 (@beniaminmincu) June 8, 2022