Binance Issues Resolved: Data backup restored, system updated

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After the closure of Binance the spread of FUD was rampant up to a point where John McAfee was in an all out Twitter war with the CEO of Binance Changpeng Zhao (CZ). The issues were resolved on 10am UTC time on February 9th. After the trading went live web traffic on Binance increased substantially and the site is currently experiencing constant denial of service attacks due to the combination of high traffic as well as malicious players running their own denial of service attacks.

Binance has given users of the platform a 70% reduction in trading fees until 0:00am UTC Feb 24th which is equivalent to 0.03% per transaction and 0.015% per BNB transaction. CZ amidst the current DDoS attacks posted on his Twitter @cz_binance that US and Korea users can access a mirror of Binance by going to the US Binance and KR Binance subdomains.

John McAfee started believing that Binance was hacked and as an influencer he spread the message to a lot of people that there may have been a potential hack. This was a cause for a lot of the fear, uncertainty, and doubt.

Changpeng Zhao (aka CZ) posted on Twitter that if users are experiencing trouble with the platform they should use the US and KR and subdomains.

Binance posted a thanks to its users by reducing fees until February 24th, 2018

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