Cryptocurrency exchange hack thwarted as thieves lose their own money in failed robbery

One of the world's biggest cryptocurrency trading platforms was hacked this week - but the would-be thieves got away with nothing and actually lost money themselves in the attempt. "All funds are safe", Binance CEO Changpeng Zhao said on Twitter, moving to reassure customers unnerved by feverish speculation. Rumours of a raid on the China-based exchange had spread on Reddit on Wednesday morning when panicked traders reported seeing their balances drained and their holdings sold at market rates after being converted to viacoin, a type of altcoin with low liquidity 25 times faster to transact with than bitcoin. There were irregularities in trading activity, automatic alarms triggered. Some accounts may have been compromised by phishing from before.