As an analyst with a background in cybersecurity and experience in the cryptocurrency industry, I believe Yi He’s statement that the user’s loss was due to a compromised personal computer is plausible based on the information provided. The accusation of manipulated trades on Nakamao’s account seems less likely given the quick action taken by Binance’s customer service team in freezing the affected account. However, it is important to note that more information may be necessary to make a definitive conclusion.
Yi He, one of Binance‘s co-founders, has spoken out about claims of a security breach resulting in a $1 million cryptocurrency loss for a user. He reiterated that the incident wasn’t due to a vulnerability in Binance’s platform, but rather the user’s compromised computer. This comes after allegations from trader Nakamao, who reported suspicious activity and substantial losses on his account.
Yi He Denies Binance Fault in Hack
Yi He made it clear in a comprehensive explanation that the user’s Binance account was accessed due to a hack on their personal computer. The cybercriminal then proceeded to sell off the victim’s cryptocurrency, leading to trading losses. Yi He stressed that Binance’s security measures remained robust and unbreached, with the vulnerability originating outside of the platform itself. In essence, the user suffered a loss due to their compromised computer.
While Nakamao offered an alternative viewpoint, he claimed that the hacker gained control over his Binance account through his web cookies. He went on to explain that afterwards, the security team informed him that the hacker had been manipulating his account by keeping his web cookies captive. The hacker carried out transactions in popular USDT trading pairs and placed excessive sell orders in less frequently traded pairs such as BTC and USDC.
Binance Quick to Freeze Hacked User Account
In reaction to the incident, Binance’s customer support explained that a harmful add-on was used by the hacker to infiltrate the system, disguising themselves as Nakamao. The team took immediate action, locking down the affected account just one minute and nineteen seconds after being notified. Regrettably, some leveraged transactions had been executed prior to the account freeze. Binance’s official communication stated, “We express our condolences for your loss, but based on current information, it appears that your devices were compromised due to the installation of malicious add-ons.”
As a crypto investor, I was taken aback by Binance’s response to the recent security incident. Although they acted swiftly, I couldn’t help but question their prior knowledge of the malicious plug-in. I strongly believe that Binance had advance information about this issue and failed to alert users earlier. In my opinion, they should have taken precautions to protect their community from potential harm. My suspicions were further fueled when it was revealed that Binance not only knew about the hacker but also urged one of their Key Opinion Leaders (KOL) to gather more information.
As a responsible crypto investor, I strongly agree with Yi He’s advice on the significance of securing our login practices, particularly concerning active cookie plug-ins on Binance. I cannot stress enough that Binance holds no responsibility if your login devices are breached due to your actions. Therefore, it is essential to prioritize security over minor conveniences to protect our investments.
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2024-06-03 23:20