Binance obtains a license for crypto services in Kazakhstan
As CEO Changpeng Zhao continues to push forward with his goal of introducing hundreds of millions of people to cryptocurrency within the next several years, Binance has lately made headlines for continuing their binge of gaining licenses to operate in more jurisdictions.
According to current projections, over one billion people will possess bitcoin by 2024 or 2025. As the top cryptocurrency exchange and provider of digital asset services, Binance is one of the businesses most positioned to benefit from this rapid expansion.
Binance is given permission to conduct business in Kazakhstan
In Kazakhstan, Binance has been granted a license to offer custody services for digital assets, according to a recent press statement.
Binance can now offer the aforementioned services from the Astana International Financial Centre thanks to the license it got from the AIFC Federal Services Regulatory Committee.
The most licensed exchange is Binance.
In addition to having the highest trading volumes and having the most users, Binance is now the cryptocurrency exchange with the most number of licenses across the globe.
Hacker takes 2 million BNB, causing a halt to BSC for eight hours.
Owners of SOL will likely be familiar with the fact that centralized blockchains frequently pause or stop functioning for a while (the chain has already stopped working eight times over the course of 2022).
Nevertheless, up until this point, Binance Smart Chain had operated largely controversy-free, with no significant issues uncovered at the protocol level.
A vulnerability in the Binance Token Hub, which integrates the Binance Chain with the Binance Smart Chain, was successfully exploited by a hacker last night. This gave them the opportunity to steal 2 million BNB, which they then attempted to exchange for other assets and migrate to chains that were more censorship-resistant.
The Binance team quickly opted to suspend the chain for eight hours after making every effort to step in and salvage what they could from the situation.
After everything was said and done, Tether had blacklisted the hacker and his related wallets, and it appears that the hacker only made off with $100 million of the $560 million that was initially stolen. This is still a sizable sum, but it is not nearly as bad as it could have been had the team at Binance not been so careful.