Cryptocurrency Exchange Binance Denies Security Leak Claims
Binance, the popular cryptocurrency exchange, has dismissed allegations of a security breach in its system. Responding to a post on GitHub that claimed Binance user data had been leaked, the company’s support team stated that there have been no leaks and user accounts are secure. The user, known as X, had suggested that the KYC data of a Binance user was being sold on the darknet by hackers.
Hacker Selling Access to Law Enforcement Request System
An internet hacker recently claimed to have access to KodexGlobal’s law enforcement requests account, which allows buyers to obtain user information from companies like Coinbase, Binance, and Chainlink. Cybercrime solutions provider Hudson Rock reported that the hacker is selling access to this account on BreachForums for $5,000 or $300 per emergency data request (EDR).
“A worrying trend emerges as threat actors hack into the law enforcement systems of major organizations, gaining the ability to legally request personal details of users. This abuse often leads to identity thefts, extortion, and financial losses.”
Hudson Rock report
Binance Requests Removal of GitHub Account
Previously, it was reported that Binance had requested the removal of a GitHub account that had published the company’s internal code. This posed significant risks for the trading platform as the code cache, internal passwords, two-factor authentication data, and other technical information were publicly available.
Hot Take: Binance Ensures User Account Security Amidst Allegations
Binance has responded to allegations of a security breach by affirming that there have been no leaks in its system and user accounts remain secure. The exchange’s support team reassured users that their accounts are protected through multiple defenses, including MFA, biometrics, and authenticators. While concerns have been raised regarding the sale of access to a law enforcement request system account, Binance remains committed to maintaining the security and privacy of its users. It is essential for cryptocurrency exchanges to prioritize robust security measures in order to safeguard user information and prevent potential cybercrimes.
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