Binance warn of a possible of another wave of crypto attack

[coinrifft]

Hackers can exploit many vulnerabilities, which is what we're discussing. Most of the time, users run into problems because they aren't vigilant. So, I think the best approach when you make withdrawals from your account is to use whitelisting for addresses.

This helps users ensure that if they make repeated withdrawals to the same address, they take full advantage of that control.

One good rule of thumb is: even if it looks official, don't trust it easily. Make sure it's a reasonable email or something.

Or maybe the best thing is not to react if we see such email? Maybe need to wait to see if it is from official from any crypto services. Or just ignore and not click any links even though it looks official.

And so far after the Binance hacks there are a lot of exploits from Brazil and wallet services as well. So yes, not on Binance, but any other services that is crypto related is now a target from this hackers.

[PVequalNRT]

The recovery process doesn't look strong, the FBI is tracking down on thorchain node operators to block transactions linked to the binance hack, but the hackers are more sophisticated, they're news of fresh rinsing method the hackers implement not to be traced. The good thing is that customer funds are safu, as for recovery it'll be close to impossible.

I was curious why Binance got FBI involved in this investigation, I search for tweets and post about FBI when Bybit was hacked and there was none. Could it be that FBI(US) enjoyed the $4B they fine Binance few years ago. Investigation is supposed to be mutual and I think Thor chain Dex has much more liquidity than other Dexes, most of the hackers that stole money used that Dex to move money in between, maybe that's is why they are urging node operators to comply.

I think if we don't keep coins on the exchange, there will be no discussion of Binance earning users about withdrawal hack. Keep your coins on your wallet and worry about your personal wallet and let Binance and rest of people to handle their asset with Binance since they preferred Binance.

[HajiBagi]

Binance knows that there is a group of cyber thieves who do not enter directly into the crypto accounts of users but use phishing attacks and email scams or through calls especially those types of scams we see frequently on social media which is why this was announced so that vulnerable users won’t fall for the trick this type and perhaps op you saw it from a wrong side or perspective.

It’s for our (user) safety and not the benefit of binance

There are people that will definitely panic and want to withdraw their assets because of what happened, that is a normal thing that happens to many exchanges, and Binance will never announce or tell anyone to withdraw their asset’s because they can’t afford to lose their customers, just as you said, they are giving warn for the users to be careful and not fall the scammers trick, because if anyone get scammed it will not be their responsibility.

I like as Binance gave the warning and it will definitely help a lot of people because of what happened to them in few weeks ago, if anyone want to withdraw their assets, where are they going to put their assets or which exchange are they going to use? They should not forget that every exchange can be hacked, so it is better to be careful and protect our assets from hackers.

[Accardo]

I was curious why Binance got FBI involved in this investigation, I search for tweets and post about FBI when Bybit was hacked and there was none. Could it be that FBI(US) enjoyed the $4B they fine Binance few years ago. Investigation is supposed to be mutual and I think Thor chain Dex has much more liquidity than other Dexes, most of the hackers that stole money used that Dex to move money in between, maybe that's is why they are urging node operators to comply.

Binance hack was massive, hanging at 6 billion dollars, that's not a small amount, the POTUS got aware of this hack, and called it a north Korean attack on their financial system. Having gotten to the ears of the government and having a tie with North Korea, the FBI jumped into the case, I think why thorchain is under fire is for the amount of money they made allowing those transactions go through, I saw a tweet stating that the exchange made about 200k dollars in fees alone from these hackers.

[arwin100]

Hackers can exploit many vulnerabilities, which is what we're discussing. Most of the time, users run into problems because they aren't vigilant. So, I think the best approach when you make withdrawals from your account is to use whitelisting for addresses.

This helps users ensure that if they make repeated withdrawals to the same address, they take full advantage of that control.

One good rule of thumb is: even if it looks official, don't trust it easily. Make sure it's a reasonable email or something.

Or maybe the best thing is not to react if we see such email? Maybe need to wait to see if it is from official from any crypto services. Or just ignore and not click any links even though it looks official.

And so far after the Binance hacks there are a lot of exploits from Brazil and wallet services as well. So yes, not on Binance, but any other services that is crypto related is now a target from this hackers.

Good action to consider, since there are so many scammers will exploit the situation. So if they don't want to fall again on another scam.

Much better wait on the official announcement, since for sure they could get more legit information from real people working on that platform.

Also I'm not surprised with the announcement of Binance. Its expected to see more hacking issue, since Ai make those things easy. If platform will not do any major upgrade on their security. They might became an easy target of those scammer.

[CucakRowo]

I was curious why Binance got FBI involved in this investigation, I search for tweets and post about FBI when Bybit was hacked and there was none. Could it be that FBI(US) enjoyed the $4B they fine Binance few years ago. Investigation is supposed to be mutual and I think Thor chain Dex has much more liquidity than other Dexes, most of the hackers that stole money used that Dex to move money in between, maybe that's is why they are urging node operators to comply.

Binance hack was massive, hanging at 6 billion dollars, that's not a small amount, the POTUS got aware of this hack, and called it a north Korean attack on their financial system. Having gotten to the ears of the government and having a tie with North Korea, the FBI jumped into the case, I think why thorchain is under fire is for the amount of money they made allowing those transactions go through, I saw a tweet stating that the exchange made about 200k dollars in fees alone from these hackers.

Not quite.. To be exact , the FBI and US officials pinned the Binance hack on TraderTraitor, a group tied to North Korea.

Trump never confirmed that tho . He said they're still looking into it and don't know yet whether DPRK's behind it.

This isn't the first time the FBI has stepped in to help the crypto industry, either. They're the ones who called out the culprit in the Bybit hack, and guess who it was ? Same crew , TraderTraitor.

[Findingnemo]

I am not sure how people can ask for the speeding up of the qithdrawal, it should happen and no one can do anything for it so I don't think many users will fall for this scam and users should realize not your keys not your cryptos and avoid using binance or any exchanges to store cryptos.

[jossiel]

That is an open secret.

He's more vocal than the one who's the actual CEO right now - Richard Teng and Yi He.

It's hardly surprising that CZ is still calling the shots behind the scenes at Binance. That said, even if he's not directly involved in running the company. It's no wonder he's more vocal than both CEOs, given that he remains Binance's largest shareholder, holding a 90% stake.

I think there's a legal issue why he stepped away from being the CEO but, it's possible that behind doors and company's policy tells that he's still a major stake holder so, he can still call shots and the two agree.

He talks a lot from a company standpoint and not only based on his opinion.

This isn't the first time the FBI has stepped in to help the crypto industry, either. They're the ones who called out the culprit in the Bybit hack, and guess who it was ? Same crew , TraderTraitor.

And many still don't believe that it's from North Korea who were responsible for all of these attacks and thefts.

[Accardo]

Trump never confirmed that tho . He said they're still looking into it and don't know yet whether DPRK's behind it.

Yeah, I looked it up again, he was jumping past those questions about north Korea leading the hack, I believe he has so much to talk to Kim Hong Jun about denuclearization, that was why he'd choose not to publicly go along with what the reporters or Fbi say, but if his people says so, and he doesn't come out to dismiss it as a false news, possibly he doesn't want to ruin his initial plans with Kim before the hack occured, by sidelining the Whitehouse.

[Churchillvv]

I like as Binance gave the warning and it will definitely help a lot of people because of what happened to them in few weeks ago, if anyone want to withdraw their assets, where are they going to put their assets or which exchange are they going to use? They should not forget that every exchange can be hacked, so it is better to be careful and protect our assets from hackers.

Perhaps moving out coins from an exchange does not mean they have to go back to exchange again or just revolve around exchanges only but however they can deceive to self custody their coins or even better still have a multi signature wallet where two people have to authorize the transaction in case of hacks. So there are other options but still nothing is guaranteed.

[BALIK]

It's hardly surprising that CZ is still calling the shots behind the scenes at Binance. That said, even if he's not directly involved in running the company. It's no wonder he's more vocal than both CEOs, given that he remains Binance's largest shareholder, holding a 90% stake.

I think there's a legal issue why he stepped away from being the CEO but, it's possible that behind doors and company's policy tells that he's still a major stake holder so, he can still call shots and the two agree.

He talks a lot from a company standpoint and not only based on his opinion.

That's the legal side of it. Remember CZ going to prison in 2024?

After pleading guilty and paying $50M fine , he agreed to step down as CEO, and DOJ also banned him from running Binance for life. But they can't strip his stake, and he's the largest shareholder. So he's still got the biggest say at Binance.

Plus , do not forget Yi He is his wife and second largest shareholder too. Binance is basically a family business, so no wonder CZ's still running the show behind the scenes .

https://cointelegraph.com/magazine/changpeng-zhao-regained-power-between-prison-pardon

[Akaenyi]

I like as Binance gave the warning and it will definitely help a lot of people because of what happened to them in few weeks ago, if anyone want to withdraw their assets, where are they going to put their assets or which exchange are they going to use? They should not forget that every exchange can be hacked, so it is better to be careful and protect our assets from hackers.

Perhaps moving out coins from an exchange does not mean they have to go back to exchange again or just revolve around exchanges only but however they can deceive to self custody their coins or even better still have a multi signature wallet where two people have to authorize the transaction in case of hacks. So there are other options but still nothing is guaranteed.

Question of where to store your coins doesn't even arise for a lot of crypto holders, they know that exchanges no matter their reputation are not the safest place to keep their coins because if anything happens to the exchange your coins can be affected. Aside from freezing your funds an exchange can go bankrupt or hacked like what recently happened to Binance so we should remember the term 'not your keys not your coins'. You should leave most of your coins in none custodial wallets, although nothing is guaranteed anymore because wallets can also be compromised but they are safer than exchanges.

[Localhostspeed]

Yeah, I looked it up again, he was jumping past those questions about north Korea leading the hack, I believe he has so much to talk to Kim Hong Jun about denuclearization, that was why he'd choose not to publicly go along with what the reporters or Fbi say, but if his people says so, and he doesn't come out to dismiss it as a false news, possibly he doesn't want to ruin his initial plans with Kim before the hack occured, by sidelining the Whitehouse.

In the first administration of Donald Trump before this second one, I thought he said he had a strong relationship with North Korea president and they are beautiful people, he went to cross the border many people has said bad things about. Why is it now difficult for him to speak to North Korean leaders. I also thought he said he is world president and he is above everyone but he doesn't say anything when it comes to North Korea, does that means he is a puppet and afraid to start war with North Korea.

If this incident is one that he desperately hate the countries about, there is no way he is letting go of that country, he will disturb them, he will threaten them and will attack them if they respond to him but guess what? For days now, he hasn't condemned them, he hasn't abuse them like other countries he always says all sort of bad things about. He is just a chicken is guess.

[abaeze]

I think Binance's warning is to gain the trust of its users. However,l it would be wrong to see Binance's warning as a reason not to withdraw funds because I personally did a test withdrawal after this incident without any problems. Since they are warning users in advance, so everyone should be more careful when need to withdraw. Another thing to remember is that trusting Binance and taking responsibility for the safety of our assets aren't contradictory.

Ultimately, it isn't a bad decision for users to want to take advantage of Binance as before, but people shouldn't rely entirely on Binance for the safety of their Bitcoin in the long term.

[CucakRowo]

This isn't the first time the FBI has stepped in to help the crypto industry, either. They're the ones who called out the culprit in the Bybit hack, and guess who it was ? Same crew , TraderTraitor.

And many still don't believe that it's from North Korea who were responsible for all of these attacks and thefts.

Guilty as charged, I'm one of 'em.

I have never bought the idea that NK is behind all of these hacks. The FBI saying so, with no hard evidence made public does not cut it for me.

I'm not ruling out NK being behind some of these attacks , but pinning every single one on the same actor just does not add up. It's a pretty tough sell.

Not everything Uncle Sam says is gospel truth, buddy.

[MArsland]

If I'm not mistaken there is a recent interview by CZ that says now not only crypto is threatened but the entire digital financial infrastructure can be seen here. I know it has been going on for a long time but this time the traditional financial system, modern finance, companies, transaction service providers continue to experience threats and automatic trust is increasingly at stake.

[jossiel]

I think there's a legal issue why he stepped away from being the CEO but, it's possible that behind doors and company's policy tells that he's still a major stake holder so, he can still call shots and the two agree.

He talks a lot from a company standpoint and not only based on his opinion.

That's the legal side of it. Remember CZ going to prison in 2024?

After pleading guilty and paying $50M fine , he agreed to step down as CEO, and DOJ also banned him from running Binance for life. But they can't strip his stake, and he's the largest shareholder. So he's still got the biggest say at Binance.

Plus , do not forget Yi He is his wife and second largest shareholder too. Binance is basically a family business, so no wonder CZ's still running the show behind the scenes .

https://cointelegraph.com/magazine/changpeng-zhao-regained-power-between-prison-pardon

They can legally put him away from the company but his involvement cannot be. In paper it's all gone and done but, CZ knows how to take care of it and he's still involved no matter what the government has given him as the condition.

Yi He might be the Co-CEO of Richard Teng in paper but, decisions could still come from him.

I think that this is a common business or organization structure that everyone has an idea with.

And many still don't believe that it's from North Korea who were responsible for all of these attacks and thefts.

Guilty as charged, I'm one of 'em.

I have never bought the idea that NK is behind all of these hacks. The FBI saying so, with no hard evidence made public does not cut it for me.

I'm not ruling out NK being behind some of these attacks , but pinning every single one on the same actor just does not add up. It's a pretty tough sell.

Not everything Uncle Sam says is gospel truth, buddy.

It's hard to believe at first that they're only throwing accusations to it, but if there's proof and it didn't happened only once but many times.

That seems to be a livelihood to them already for the funding their boss' rocket launchers.

While that's true that not everything that US says is real and they can play as the hero pointing out to others. At time, the reality will come out somewhere in the future.