Bitcoin Forum

Users of Binance, the top cryptocurrency exchange in the world by trade volume, are
reporting suspicious activity in their accounts stemming from an apparent hack on Reddit, March 7.

Apparently it's just a rumor, you think

I have an account there, not a lot in it.  Thankfully, so far, it doesn't appear anything has happened to it.  I feel bad for those that may have had funds/coins stolen.    :(

There was no hack, officials have confirmed that, it was just the hack of some members who were using bots and the dev of that bot hijacked those accounts, so binance proactively closed withdrawals temporarily and reversed all suspicious trades, i think this issue was resolved pro-actively by binance.

binance proved himself during last a few months. they are one of the most trustable exchanges nowadays but ofcourse it is not enough. crypto market needs a decentralized exchange platform as soon as possible to reduce the risk of all users.

There was no hack at all, it's people with bots that had problems.

However it has led to serious correction of bitcoin. The market is very sensitive to news.  Madly sensitive.

Calm down. Binance wasnt hacked. Only users who used bots for traiding and gave to them theirs api keys could lost something. And this even good. Cause a lot of peole are tired of bots

I just watched one popular crypto related youtube channel in my country and they say, that it was not hacked

Tragic is to know this....

phising or hacked?  ??? see the update from CEO binance here : https://twitter.com/cz_binance/status/971483376753393664
hmmm.. i think it's time to move to the decentralized exchanger guys >:(

I wont say there was a hack but this is why people are always warned not to put their fund on exchanges, although sometimes I am guilty of these but any huge amount should be in ones wallet. Bnance to me will be a hot target for hackers now and won't be surprised if it was hacked

You should be reading guys,it was a hack attempt it isnt just a rumour.

THIS IS THE OFFICIAL STATEMENT

It isnt some kinda rumor,On Mar 7, UTC 14:58-14:59, within this 2 minute period, the VIA/BTC market experienced abnormal trading activity. Our automatic risk management system was triggered, and all withdrawals were halted immediately.

This was part of a large scale phishing and stealing attempt. 

So far: All funds are safe and no funds have been stolen.

The hackers accumulated user account credentials over a long period of time. The earliest phishing attack seems to have dated back to early 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. Many users 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, within the aforementioned 2 minute period, the hackers used the API keys, placed a large number of market buys on the VIA/BTC market, pushing the price high, while 31 pre-deposited accounts were there selling VIA at the top. This was an attempt to move the BTC from the phished accounts to the 31 accounts. Withdrawal requests were then attempted from these accounts immediately afterwards.

However, as withdrawals were already automatically disabled by our risk management system, none of the withdrawals successfully went out. Additionally, the VIA coins deposited by the hackers were also frozen. Not only did the hacker not steal any coins out, their own coins have also been withheld.

The hackers were well organized. They were patient enough to not take any immediate action, and waited for the most opportune moment to act. They also selected VIA, a coin with smaller liquidity, to maximize their own gains.

After a thorough security check by Binance, we resumed withdrawals. Trading functionality was never affected. There are still some users whose accounts where phished by these hackers and their BTC were used to buy VIA or other coins. Unfortunately, those trades did not execute against any of the hackers’ accounts as counterpart. As such, we are not in a position to reverse those trades. We again advise all traders to take special precaution to secure their account credentials.

Protecting our traders is and has always been our highest priority.

Thanks for your support!

Binance Team

2018/03/08

source : https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance (https://support.binance.com/hc/en-us/articles/360001547431-Summary-of-the-Phishing-and-Attempted-Stealing-Incident-on-Binance)

I read in the news. The hack was exactly. Hacked users trading bot. The purpose of the attack is pump VIA. All hacked sold all altcoins and purchased VIA. I think it's a pretty stupid plan. All problems solved and there is no reason to worry, except hamsters, which were scared and began to bolt sell their coin

Yes it was a hack attempt,so it only means that binance's security still needs some adjustment i know that there is no perfect system but they need to be sure that the user's accounts are all safe from these hackers.Because in the first place binance shouldnt allowed these bots in the exchanges,it is clearly their faults too.

Binance indeed was hack,but they have locked down the widrawals that is why these hackers didnt steal all of the funds that where compromised,but surely binance's reputation is somehow got marked already because if they didnt allowed these bots to be used,there will be no glitches or holes in the exchange's system,it is their fault not the users who are using bots.

Binance already announced that they reversed all irregular trades, so all funds are safe. Though it wasn't a real hack but I'm still sure that it's not safe to store your money on exchanges. Use exchanges only for trading not for storing.

How would this attempt not a hack? did you read the official statement of binance? they have called these people the hacker " which makes that attempt a hack attempt,so this is a hack somehow binance wont admit that their system has shortcomings instead of apologizing they blame those people who uses bots,very unprofessional.

It was a hacked attempt, so it is considered as a hack incident,why would people doesnt want to accept the fact that binance has still have something to improve?there are no perfect system and safe from these hackers they can hack all of the systems so do not expect these exchanges will be safe from the hack attempts.

"All funds are safe. There were irregularities in trading activity, automatic alarms triggered. Some accounts may have been compromised by phishing from before. We are still investigating. All funds are safe."
Most likely, this problem affects everyone who uses bots for trading on the stock exchange and who have been the victim of stolen API keys.

There was no Binance hack. A good friend told me that conigy has been hacked last day and the hackers abused the trading function from that platform to sell all the coins at binance. Correct me if I am wrong  ;D

no it is not.. you can see the tweet of binance ceo.it was hacked.. as he used the word " hackers" .. but all the funds are now safe there were some trade irregularities but they have fixed everything

https://twitter.com/cz_binance/status/971520303812698112

Read the statement,they have called these attackers ,hackers ? they have considered it as hackers so they were compromised those are just excuses,if they didnt hold the widrawals they will get fucked up luckily followers from twitter had been actively shouting binance was hack so they did immediately disabled the widrawals,IT IS A HACK ATTEMPT

it could be prevented if they didnt allowed these bots in their exchange.

All of these attacks caused by the hackers are indeed a good reason why we should keep our eyes with these exchanges,there are no perfect system and indeed binance has some shortcomings,they are blaming those bots to be the reason why that hackers get those API keys but in fact if they didnt allowed those bots to play in their exchanges there will be no problem,it was their mistake that why they are compromised.

actually API bot problem was not the only reason for binance hack

there are people with hacked accounts who never used bot or API

some people got pishing and also mobile app (which stays always logged in) can be a weak point also

to be honest, binance had a very promt reaction to the hacking and roll back the system and solved the problem

we saw again, why binance is one of the best

No shit,it was a hack incident,phishing sites are considered as a hacking tool,they have called these people hackers so it is a hack.They are just blaming these bots to cover the mess that the hackers have caused,it shouldnt be happening if they prevented those bots in their exchanges,they ahve a good reputation that is why they wont admit it.

It aint a rumor,it was a hack incident,binance wont be admiting those attempts because their repuation has a good records from their users.They shouldnt allowed those bots to be used at the first place to these hackers wont find any holes in their security,they are just so lucky because most of the people in twitter get alarmed so that they have disabled all the widrawals.

The exchange all said that everything was fine and lost money during these events only by hackers.

Im not surprice on it. Because todays hacker are so strong. They can crack many security system in just a click. Even xem wallet they almost take half a million dollars on it. And many hacker do but they didnt capture. Because nobody knows where did they do that. There lot of country doing crypto so its so hard to track on them..

There was no hack for all.
People with bots and APIs had problems.

So you don't use this, you Safe.

even I just learned this news from your post. before I did not hear hacking about binance exchanges. I think this is just a rumor for the market getting down.

It wasn't true that Binance was hacked. It was a FUD, because i have an account there and nothing happened to it. I do not know why FUD easily spread these days. Anyway that is the power of media. It really causes a lot of panic to people and i am sure this would have made so many to sell there coins in haste.

The hacker were patient, spending time collecting user account credentials by imitating the official Binance logo  and creating an API key for each collected. API stands for application programming interface – it is by using this that one programme recognises another. But all funds are safe  and no  funds is stolen.

Official statement of Binance team:

Proof - https://twitter.com/cz_binance/status/971454040704872448

It wasn't a Binance hack. It was only some traders with third party API access which got compromised.

binance must upgrade their security system! y'all guys only use exchanger for trade! don't save your funds in exchanger for a long time, always save in your private wallet, its more safety than exchanger wallet

Yes or no
do you really think the news of binance has caused the market to fry so much ?

LOL,its not a rumor it really happened,go to binance and do your homework binance was hack and they are denying it blaming those bots that they have allowed in their exchange,very unprofessional way of admitting their fault.I have lost my faith with binance apparently i am going back to my old school exchange which is bittrex.

I've read that all is ok. Just check official Binance twitter. So do not worry for your criptocurrency assets ;)