A crypto trader experienced a significant security breach on their Binance account, resulting in the loss of $70,000 worth of digital assets. The hacker accessed the account’s private information and withdrew the assets in BNB tokens.

Don't miss out on more posts like this—subscribe now!

The Unusual Breach

An article on CoinGape states that the trader, who goes by the username DoomXBT, shared their ordeal on a Reddit post. They said that they heard sound notifications about orders getting filled while they never placed any. They checked their account and saw that their balance was reduced to zero.

The hacker had performed several unauthorized transactions, such as creating trade orders, taking out loans, and exchanging the trader’s assets for BNB tokens. The hacker then withdrew the BNB tokens to an unknown address.

The trader claimed that their account should have been secure because they had enabled two-factor authentication and used a Yubikey. They also said that their Google account, which was linked to their Binance account, had no signs of being compromised.

Binance’s Response and Investigation

The trader contacted Binance’s customer support, but was not satisfied with their response. They said that the support agents blamed their Google account for being hacked, even though they had no evidence of that. They also said that the agents were defensive and unhelpful.

Binance’s CEO, Richard Teng, publicly acknowledged the breach and assured the trader that a special security task force was conducting an investigation. He also said that Binance would cooperate with law enforcement agencies if needed.

However, the trader was skeptical of Binance’s efforts and expressed frustration with the lack of communication and transparency. They said that they had not received any updates or compensation from Binance.

Ensuring the Security of Your Digital Assets

The breach highlights the importance of protecting your digital assets from hackers and cybercriminals. Here are some tips on how to do that:

• Enable two-factor authentication on your crypto accounts and use a secure device to access them.
• Use a hardware wallet to store your private keys offline and away from hackers.
• Monitor your accounts regularly and report any suspicious activity or transactions to your crypto platform.
• Stay informed about the latest security best practices and updates from your crypto platform.

Remember, your digital assets are your responsibility. Be vigilant and proactive in safeguarding them from potential threats. 🛡️🔒

Source:

https://coingape.com/binance-user-doomxbt-victim-of-70k-digital-asset-theft