Bitcoin: USD/BTC (BTC=X) exchange Binance has confirmed a “large scale” data breach

Bitcoin: USD/BTC (BTC=X) exchange Binance  has confirmed a “large scale” data breach

Bitcoin: USD/BTC (BTC=X) exchange Binance has confirmed a “large scale” data breach

Cryptocurrency exchange Binance  has confirmed a “large scale” data breach, in which hackers stole more than $40 million in cryptocurrency

In a statement, the company said hackers stole API keys, two-factor codes and other information in the attack.

Binance traced the cryptocurrency theft — more than 7,000 bitcoins at the time of writing — to a single wallet after the hackers stole the contents of the company’s bitcoin hot wallet. Binance, the world’s largest cryptocurrency exchange by volume, said the theft impacted about 2 percent of its total bitcoin holdings.

“All of our other wallets are secure and unharmed,” said the statement.

“The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time,” the statement read. “The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed.”

“Once executed, the withdrawal triggered various alarms in our system. We stopped all withdrawals immediately after that,” the statement said.

Binance said its secure asset fund for users (SAFU) will cover user losses.

Until the company’s investigation is complete, deposits and withdrawals will remain suspended but trading will remain open.

Binance chief executive Changpeng Zhao is set to hold a Twitter ask-me-anything session in the coming hours. TechCrunch will bring you more once we have it.

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 6,342.28.

The projected lower bound is: 5,332.47.

The projected closing price is: 5,837.37.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 32 white candles and 18 black candles for a net of 14 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 73.1252. This is not an overbought or oversold reading. The last signal was a sell 2 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 67.15. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 14 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 97. This is not a topping or bottoming area. The last signal was a sell 0 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 4 period(s) ago.

Rex Takasugi – TD Profile

FOREX BTC= closed down -42.830 at 5,801.190. Volume was 73% below average (consolidating) and Bollinger Bands were 18% wider than normal.

Open High Low Close Volume___
5,839.2505,910.7005,643.5705,801.190 19,190

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 5,550.93 4,964.72 4,413.51
Volatility: 36 67 70
Volume: 52,540 72,154 74,304

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX BTC= is currently 31.4% above its 200-period moving average and is in an upward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of BTC= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on BTC= and have had this outlook for the last 5 periods.

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