Credit: Binance/Twitter
No it aint so.
Binance wasn't hacked,in fact only 31 accounts were affected/compromised during today's event.
According to Binance as well ,The hackers accumulated user account credentials over a longer period of time.
The earliest phishing attack seems to have dated back to earlier this year (Jan).
However it was around Feb 22, where a heavy concentration of phishing attacks were seen using unicode domains, looking very much like binance.com, with the only difference being 2 dots at the bottom of 2 characters.
Seems like many traders fell for these traps and phishing attempts.
After acquiring these user accounts, the hacker then simply created a trading API key for each account but took no further actions, until yesterday.
"Yesterday the hackers used the API keys, placed large market buys on the VIA/BTC market, pushing the price high, while 31 accounts sold VIA at the top. They selected VIA, a coin with smaller liquidity, to maximize their gains." Said Binance on their main page/Twitter account.
If anything this shows an excellent response to something that could have heavily damaged their reputation.
Kudos to the Binance management/security team.
Unfortunately,these 31 accounts being compromised ...did have a good part in today's BTC drop.
Their quick & steady response though did slow down any chance of negative rumor mongering but this type of event shows Crypto's hyper sensitivity to any type of negative news.
I mean honestly think about it... 31 accounts out of 5 million users?
This shows the razor's edge ,all of us walk on investing in this speculative market.
At least you know Binance is on top of their game as a crypto exchange.
Tell me what you think ...do you use trader bots?
Will you now?
Thanks for reading!
Congratulations @technicalwealth! You have completed some achievement on Steemit and have been rewarded with new badge(s) :
Click on any badge to view your own Board of Honor on SteemitBoard.
For more information about SteemitBoard, click here
If you no longer want to receive notifications, reply to this comment with the word
STOPIt's really nice to see that Binance keeps on delivering and handles the hard situations in a professional matter.
Great post! Thank you! Upvoted!
Hi, great post, worth a follow.
Thanks!
I do appreciate it.
Yes i still make use of a "bot". Actually it's a trading terminal. So all my exchanges will have the same interface. Don't have to look and remember all the buttons etc. Terminal I'm using is Leonardo.
My firm uses something similar on Wall St.
Hence why i asked ...im curious in many aspects of these trading terminals for crypto ('bots' for short)
Though here in the US it might not be as advantageous ...for individual investors (tax reasons)
But i'll be researching it further...possibly post a comparison in regards to differences in both trading terminals.
Thanks for the response.
Hehe so you're using trading terminals also? ;)
From which trading terminals you want to create a comparison?
What taxes in the US prevent individual users from using a terminal?
Gonna start following you so I won't mis this!
This post has received gratitude of 4.96% from @appreciator courtesy of @technicalwealth!
great post and thanks for information @technicalwealth
visit to my blog @arijuang , if you have any time please read and leave respons , If you like my post, upvote, and resteem
You got a 4.50% upvote from @postpromoter courtesy of @technicalwealth!
Want to promote your posts too? Check out the Steem Bot Tracker website for more info. If you would like to support the development of @postpromoter and the bot tracker please vote for @yabapmatt for witness!
binance are a reliable company
@resteemator is a new bot casting votes for its followers. Follow @resteemator and vote this comment to increase your chance to be voted in the future!
This post has received a 3.26 % upvote from @boomerang.
Congratulations @technicalwealth! You have completed the following achievement on Steemit and have been rewarded with new badge(s) :
Click on the badge to view your Board of Honor.
If you no longer want to receive notifications, reply to this comment with the word
STOPDo not miss the last post from @steemitboard:
SteemitBoard World Cup Contest - The results, the winners and the prizes
Congratulations @technicalwealth! You received a personal award!
Click here to view your Board
Do not miss the last post from @steemitboard:
Congratulations @technicalwealth! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Vote for @Steemitboard as a witness to get one more award and increased upvotes!
Congratulations @technicalwealth! You received a personal award!
You can view your badges on your Steem Board and compare to others on the Steem Ranking
Do not miss the last post from @steemitboard:
Vote for @Steemitboard as a witness to get one more award and increased upvotes!