Crypto Exchange CoinBene Assures Users That Prolonged Maintenance Not Due to Hack

Top-ranked cryptocurrency exchange CoinBene has reassured users that its prolonged maintenance downtime is not due to a hack, as some community members had feared.

With the announcement, CoinBene has responded to users' ongoing concerns that delays in processing deposits and withdrawals were signs of a possible platform hack.

In its statement, CoinBene - currently ranked 4th on CoinMarketCap by adjusted daily trade volume - clarifies that is has been undertaking measures to update the exchange's wallet immediately.

The CoinBene security team says it then took swift action to protect and upgrade the wallet's security to protect their users.

"User assets on CoinBene platform are 100% secure, our platform promises that if any user assets will be lost, we will compensate 100% [sic]. The CoinBene security team monitors any anomalies at all times and will issue a warning the first time to prevent any possible risks."

In a separate tweet in the same thread, CoinBene emphasized that users should not worry about the prolonged maintenance currently underway.

Evidently relieved twitter users responded positively to CoinBene's clarification, although stated it would have been preferable to issue an announcement sooner to quash community concerns.

One user expressed their ongoing frustration over frozen deposits, to which CoinBene responded that Bitcoin, Ethereum and Tether deposits have already been reopened, and others are set to be opened "Asap."

In a recent report to the United States Securities and Exchange Commission, crypto index provide Bitwise Asset Management stated that it believes CoinBene's trading activity is suspicious, especially due to the fact that trading timesteps frequently coincide and the amounts of buying and selling are almost similar.

Just yesterday, Singapore-based cryptocurrency exchange DragonEx notified its users that it suffered a hack on March 24, the full details and scales of which are yet to emerge.