Binance Dismiss 'Platform Security' Fault, Blames Personal Security Lapse for $1m Hack
CryptoNewsTerminal Staff03 Jun, 2024
Binance Dismiss 'Platform Security' Fault, Blames Personal Security Lapse for $1m Hack
Binance co-founder He Yi has denied claims that a platform security flaw caused a user to lose $1 million in cryptocurrency, attributing it instead to a "computer hack," Cointelegraph reports. He clarified that the breach occurred due to the Aggr Google Chrome extension storing cookie login details, enabling the hacker to access the compromised account and liquidate its contents. Earlier, an individual investor alleged losing $1 million after a hacker placed market sell orders above market prices for BTC and USDC pairs and executed substantial leveraged trades. Despite not having two-factor authentication enabled, the person claimed no security alerts were received.
