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Binance Hacked 7000 BTC from hotwallet

 
syncro
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User ID: 75835116
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05/07/2019 08:56 PM
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Binance Hacked 7000 BTC from hotwallet
Binance Security Breach Update

We have discovered a large scale security breach today, May 7, 2019 at 17:15:24. Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet.

The hackers were able to withdraw 7000 BTC in this one transaction: [link to www.blockchain.com (secure)]

The above transaction is the only affected transaction. It impacted our BTC hot wallet only (which contained about 2% of our total BTC holdings). All of our other wallets are secure and unharmed.

Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.


[link to binance.zendesk.com (secure)]

Last Edited by syncro on 05/07/2019 09:07 PM
Anonymous Coward
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05/07/2019 09:20 PM
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Re: Binance Hacked 7000 BTC from hotwallet
$43 million

that's binance's fees over a few months period.

they'll be fine
syncro  (OP)

User ID: 75835116
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05/07/2019 09:33 PM
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Re: Binance Hacked 7000 BTC from hotwallet
Doesn't look like vulnerability of the exchange, but people keeping their own info secure.

Last Edited by syncro on 05/07/2019 09:34 PM
Anonymous Coward
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05/07/2019 09:44 PM
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Re: Binance Hacked 7000 BTC from hotwallet
What if they just cashed them in and claimed hacking? What's to stop them?

How else would they cash out before btc is worthless?
Anonymous Coward
User ID: 77422338
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05/07/2019 09:47 PM
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Re: Binance Hacked 7000 BTC from hotwallet
$43 million

that's binance's fees over a few months period.

they'll be fine
 Quoting: Anonymous Coward 74846433


This
syncro  (OP)

User ID: 75835116
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05/07/2019 09:49 PM
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Re: Binance Hacked 7000 BTC from hotwallet
What if they just cashed them in and claimed hacking? What's to stop them?

How else would they cash out before btc is worthless?
 Quoting: Anonymous Coward 53651439


This is very small relative to the wealth on that exchange. The CEO is a billionaire.
Anonymous Coward
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05/07/2019 09:51 PM
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Re: Binance Hacked 7000 BTC from hotwallet
They will more than likely blacklist those BTC. They know who has them !
Anonymous Coward
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05/07/2019 09:53 PM
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Re: Binance Hacked 7000 BTC from hotwallet
Oh dear. I guess they'll have to go buy some monopoly money to replace it.
Anonymous Coward
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05/07/2019 09:54 PM
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Re: Binance Hacked 7000 BTC from hotwallet
Oh dear. I guess they'll have to go buy some monopoly money to replace it.
 Quoting: Anonymous Coward 29174923


They have a fund that covers it ! 40 million dollars worth of BTC
Anonymous Coward
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05/07/2019 09:55 PM
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Re: Binance Hacked 7000 BTC from hotwallet
Oh dear. I guess they'll have to go buy some monopoly money to replace it.
 Quoting: Anonymous Coward 29174923


Buy fiat money to replace their Bitcoin?





GLP