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Author Topic: Coinfirm? Coinbase hack  (Read 231 times)
figmentofmyass
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July 10, 2020, 11:22:35 PM
 #21

Submitted a ticket with Binance US - not them.

Next, submitted a ticket with binance... will keep you posted!

the coins went to a binance.com wallet, not binance.us. unfortunately, they most likely were deposited into an unverified account and the funds have already been withdrawn. good luck though.

The statement makes it a bit unclear if it was user's error or an error on Binance's side though.

some from column A, some from column B.

the accounts were individually compromised, and not from binance's end, so ultimately that was the fault of those customers. on the other hand, binance arguably should have had controls in place that prevented such a large (7000 BTC) automated withdrawal. they considered that a failure and compensated the customer losses accordingly.

from a PR/goodwill perspective, they probably didn't have much choice given that processing that 7000 BTC withdrawal looked really bad---bad enough that everyone simply called it a hack. technically, the exchange wasn't hacked at all. they just had really badly implemented withdrawal controls.

kjlimo (OP)
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July 21, 2020, 08:43:01 PM
 #22

well I'm sad to report back that Binance has responded they cannot help Sad

Coinbase for selling BTCs
Fold for spending BTCs
PM me with any questions on these sites/apps!  http://www.montybitcoin.com


or Vircurex for trading alt cryptocurrencies like DOGEs
CoinNinja for exploring the blockchain.
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