Millions Lost as Binance Users Fall Victim to Google Plugin Scam
Major Security Breach at Binance Leaves Users in Turmoil
A shocking security breach has recently rocked the cryptocurrency world, as hackers managed to steal millions of dollars from Binance users. The incident, which was first reported by blockchain journalist Colin Wu, has raised concerns about the ongoing vulnerabilities of the platform.
The breach was facilitated by a fake Google plugin called Aggr, which had been promoted by various influential figures in the crypto community. On May 24th, a Chinese user fell victim to this scheme and lost a staggering $1 million. This followed a similar incident on March 1st, where another user had their funds stolen.
The hackers exploited hijacked cookies to bypass the password and two-factor authentication (2FA) measures in place, allowing them unauthorized access to the victims’ Binance accounts. This enabled them to carry out a series of trades, causing significant price increases in various trading pairs.
One affected user shared their harrowing experience on social media, revealing that their entire account was wiped out of $1 million. They only discovered the unauthorized transactions an hour and a half later, and despite promptly contacting Binance customer service, the hacker was able to continue operating freely. The slow response from Binance allowed the hacker to withdraw the stolen funds without any hindrance.
Binance has come under severe scrutiny for its handling of the situation. The user claimed that the exchange’s risk control measures were lacking, as the hacker’s account and suspicious transactions went unnoticed. Furthermore, it took Binance over a day to notify other exchanges to freeze the stolen funds, which ultimately proved to be too late. The delay allowed the hacker to move the funds beyond reach, leaving the user with no means of recovering their losses.
This incident highlights the ongoing security challenges faced by Binance and the wider crypto community. Despite reassurances from Binance CEO Richard Teng, a lasting solution to these vulnerabilities remains elusive.
In light of this breach, it is crucial for users to exercise caution and remain vigilant. It is advisable to avoid downloading third-party plugins and only install extensions from trusted sources. By taking these precautions, users can help protect their crypto holdings and minimize the risk of falling victim to similar hacks.