Was Binance smart chain hacked?

On Oct 7, 2022, the cross-chain bridge which powers the Binance Coin (BNB) ecosystem was hacked. BNB Chain paused Binance Smart Chain (BSC) after determining a vulnerability had been exploited, as confirmed by Changpeng Zhao (CZ), CEO of Binance. All 44 validators were asked to temporarily suspend BSC in order to contain the damage.

Did Binance pay a $150 million CFTC penalty?

The settlement was reached in late November. The court imposed a $150 million civil monetary penalty personally against Zhao, and required Binance to disgorge $1.35 billion of ill-gotten transaction fees and pay a $1.35 billion penalty to the CFTC, according to the agency.

Is Binance the world's biggest crypto exchange?

Not only is Binance the world’s biggest crypto exchange, it is orders of magnitude larger than its rivals. Up until recently, Binance boasted nearly 60% of the market share for crypto spot trading. Even as that share has waned to closer to 40% since US regulators amped up pressure on the company starting in June, no other exchange even comes close.

Where is Binance based?

Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software. Binance was initially based in China, then moved to Japan shortly before the Chinese government restricted cryptocurrency companies. Binance subsequently left Japan for Malta and currently has no official company headquarters.