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Binance Issues Critical Security Warning in Wake of Recent Incident

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Tue, 4/06/2024 - 11:31
Binance Issues Critical Security Warning in Wake of Recent Incident
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In the aftermath of a recent incident that triggered security concerns, the Binance crypto exchange has stepped forward with a security public service announcement aimed at its vast user base.

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On June 3, Wu blockchain highlighted that some Binance user accounts may have been compromised due to downloading the KOL-promoted Google plugin Aggr.

According to Wu, a Chinese user used the plug-in, which resulted in $1 million being stolen through cross-trading on May 24. Hackers used hijacked cookies to bypass password/2FA verification and gain access to the victim's Binance account.

In the wake of this disturbing revelation, Binance has stated that its platform remains uncompromised, with no security breaches detected.


While there has been no security breach on the platform, Binance urges the community to stay vigilant.

As a safety measure, Binance advises users to avoid installing browser plugins, as some malicious plugins can steal user data and compromise account security. It urges its users to take some appropriate security precautions to ensure their safety.

First, they should only install the official Binance App, or use a clean Web Browser with no third-party plugins to access the official Binance website. They should also log out from the Binance website after using it.

In a blog post, Binance highlights some further steps for users to take to strengthen the security of their Binance accounts.

First, users should choose a strong password that should be updated often and never disclosed to anyone. Users can also protect their devices with the newest anti-virus software and only install apps and programs from trusted, official sources.

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Also, they should be wary of anyone messaging them as a "Binance employee." Scammers frequently impersonate Binance employees to steal money from users. To increase safety, users should enable a withdrawal address whitelist, which assures that their accounts can only withdraw to verified addresses on the whitelist.

Lastly, users should enable two-factor authentication together with an anti-phishing code. Once enabled, all genuine emails from Binance will display a unique anti-phishing code.

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