A Russian hacker was able to hack users of world’s biggest cryptocurrency exchange, Binance. The hacker was able to not only crack password but also able to surpass 2FA (2-factor authentication) that we thought was impossible to crack. The user has made a post on reddit about it and said that he wants to make everyone aware of the massive security issue within the Binance platform.
Fortunately, the hacker was not able to take any funds out but he did traded this user’s cryptocurrency to BNB, POWR and BTC. Binance is yet to respond to his requests.
However, one user was not that lucky and hacker was able to get his funds out of exchange. Strangely, the user had both 2FA and SMS on. This login was also done from Russia.
Binance seems to have no clue and is currently getting in touch with the affected users on Telegram. If you were an affected user, feel free to get in touch with Binance’s investigator whose telegram is t.me/JagerBNB.
To users – only store those coins on exchange that you want to trade. Otherwise, store them offline on paper wallet or your own computer. When your funds are stored on exchange, you are not the real owner.
March 22, 2018