captured from: https://techcrunch.com/2019/05/07/binance-breach/
which make sense.
Topic: [2019-05-08] Binance Confirms 7000BTC ($40m) Security Breach - page 3. (Read 672 times)
The question is how would that large amount goes out of the Binance system? I believe there is a cap of 25 BTC withdrawal even for upgraded one. One of the comment on one of the article regarding that hack stated:
captured from: https://techcrunch.com/2019/05/07/binance-breach/
which make sense.
captured from: https://techcrunch.com/2019/05/07/binance-breach/
which make sense.
Binance is supposed to be beyond hacking as we expect that it can avail of the best and the most expensive security technology available at hand. Unfortunately, nothing is really secured in our modern interconnected world as hackers, phishers, scammers and all their cohorts are one step ahead of the game. In fact, the best way to do is to hire those hackers into your side...this is a good idea that Binance should look into. The reality is that Binance can be hacked, what about ordinary guys and gals like us?
That would leave a lot of exchanges bankrupt, but for the binance, neither tickles does. But it's one more case involving their API. It seems like an excellent tool for hackers to explore. Much better than trying to steal from users. Explore the failing system of them API + 2fa.
The biggest and most trust worthy exchanges in the cryptospace should not be hacked. This will not give the users any confidence to trade or to deal more in the cryptospace.
Binance is collecting millions in fees. Can it be given an excuse to be this incompetent?
Changpeng Zhao, CEO of popular cryptocurrency exchange, Binance has confirmed that the platform witnessed a security breach for the first time with the hackers being able to withdraw 7000 BTC ($40 million) in one single transaction. The confirmation came after several leads within the crypto community rumored that such funds had left Binance’s hot wallets before the exchange announced a sudden “unscheduled server maintenance.”
As per the update released by the exchange, the incident took place on May 7, 2019, at 17:15:24 (UTC). The hackers employed a variety of techniques such as phishing, viruses and other attacks to obtain “a large number of user API keys, 2FA codes, and potentially other info,” Binance said.
Moving further, the exchange said the hackers were patient enough to “wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time,” thus allowing them to bypass existing security checks.
Read in full https://coinfomania.com/binance-hack-7000btc-security-breach/
Binance is collecting millions in fees. Can it be given an excuse to be this incompetent?
Changpeng Zhao, CEO of popular cryptocurrency exchange, Binance has confirmed that the platform witnessed a security breach for the first time with the hackers being able to withdraw 7000 BTC ($40 million) in one single transaction. The confirmation came after several leads within the crypto community rumored that such funds had left Binance’s hot wallets before the exchange announced a sudden “unscheduled server maintenance.”
As per the update released by the exchange, the incident took place on May 7, 2019, at 17:15:24 (UTC). The hackers employed a variety of techniques such as phishing, viruses and other attacks to obtain “a large number of user API keys, 2FA codes, and potentially other info,” Binance said.
Moving further, the exchange said the hackers were patient enough to “wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time,” thus allowing them to bypass existing security checks.
Read in full https://coinfomania.com/binance-hack-7000btc-security-breach/
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