- Binance slips to the 12th position in the current exchange ranking by CryptoCompare.
- Binance red-flagged on security following the 7,000 BTC heist in May 2019.
CryptoCompare, a leading crypto data provider in the United Kingdom has released its second-ranking for the top 100 cryptocurrency exchanges in the world. Interestingly, Binance, currently the second-largest exchange by trading volume failed to make it among the top ten.
Gemini exchange tops the list followed by Paxos’ itBit and Coinbase in that order. The other exchanges filling the remaining seven positions include Kraken, Bitstamp, Liquid, OKEx, Poloniex, bitFlyer and Bitfinex.
Binance was ranked seventh in the second Exchange Benchmark released in June 2019. The second ranking placed the exchange in the 12th position. The reason for the significant drop according to Charles Hayter, the co-founder of CryptoCompare was the hack that Binance suffered in May 2019.
“Our new Benchmark includes a category for recent hacks for which we penalize exchanges. As Binance was recently hacked, it is marked down in the security category.”
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