Binance Hack

[KYCbench]

 

As a result of the successful hacker attack, cybercriminals managed to withdraw 7000 BTC from the hot wallet of the Binance exchange last week. Fears of users were confirmed: unscheduled technical work, which began on May 7 and as a result of which the flow of funds with Binance was suspended, was associated with a hacker attack.

Trading on the exchange was suspended on May 12, the head of Binance Changpeng Zhao said that the input and output of funds on the stock exchange will appear on Tuesday, May 14. The team plans to restore the functionality of the exchange in the near future, but the exact time is currently unknown. “Our team is doing well. Over the weekend, we seriously changed the system, many advanced security features were added or completely reworked, ” commented Zhao.

Cybercriminals brought 7000 BTC (about $ 41 million) from the hot Binance wallet. This is about 2% of the volume of bitcoins in cold storage cryptobirds. Deposits and withdrawals of funds are frozen for 1 week, until clarification of circumstances. Bidding did not stop. The exchange reported that the stolen funds will be reimbursed at the expense of its own assets of the exchange from the #SAFU fund. Binance recommended that users change passwords and reset API keys.

“We discovered a major security breach today, May 7, 2019, at 17:15:24. Hackers managed to get a large number of user API keys, 2FA codes, and possibly other information. Hackers used a variety of methods, including phishing, viruses, and other attacks. We are still completing all possible protection methods. There may also be additional vulnerable accounts that have not yet been identified.”

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