Bitcoin

USDC

Security

<p>In June 2024, the crypto community is shocked after the hacking of a Chinese trader’s Binance account, who loses 1 million dollars. The attack, made possible by the malicious Aggr plugin on Chrome, reveals the risks faced by crypto holders. Binance is criticized for its lack of responsiveness and transparency.</p>
<h2 id="h-crypto-an-unexpected-scam-with-heavy-consequences">Crypto: An Unexpected Scam with Heavy Consequences</h2>
<p>On May 24, trader CryptoNakamao notices suspicious movements on his Binance account. When he checks the <a href="https://www.cointribune.com/en/michael-saylor-remains-confident-despite-bitcoin-fall/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> rate, it is too late: the hacker has already made many trades before draining the funds.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>The victim then realizes that the Aggr plugin installed on Chrome was a Trojan horse stealing browsing data and cookies. The hackers were able to hijack the active session of the crypto trader without a password or two-factor authentication.</p>
<h2 id="h-sophisticated-hacking-techniques">Sophisticated Hacking Techniques</h2>
<p>This attack shows the creativity of hackers in circumventing security measures and stealing Bitcoins and other cryptos. Here, they used the stolen cookies to perform cross-trading, placing simultaneous buy and sell orders on a low-liquidity pair.</p>
<div class="affiliate-button"><a class="affiliate-button__link" href="https://bitvavo.com/invite?a=2831A22E17" target="_blank" rel="noopener noreferrer nofollow">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noopener noreferrer nofollow">This link uses an affiliate program.</a>
</div>
<p>Concretely, they bought many tokens in USDT, placed sell orders at excessive prices on BTC, USDC pairs, etc. Then they used leverage to inflate prices and pocket profits, without leaving a trace on the blockchain.</p>
<h2 id="h-binance-s-inaction-pointed-out">Binance’s Inaction Pointed Out</h2>
<p>The trader claims that Binance <a href="https://x.com/cryptonakamao/status/1797519128632381847?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">knew about this fraudulent plugin for a while</a>, without acting to protect crypto users. Despite unusual volumes and the victim’s complaints, the platform did not react in time.</p>
<p>For CryptoNakamao, Binance failed by not alerting its community and not quickly freezing suspicious funds. This reflects the concerns of crypto users about the security and transparency of major centralized exchange platforms.</p>
<p>This case reminds us that despite progress, the crypto ecosystem remains risky. As digital assets attract more investors, platforms like Binance must strengthen their anti-fraud and protection measures. Everyone must also be aware of the dangers and adopt good cybersecurity practices to protect their crypto assets. Because in this <a href="https://www.cointribune.com/en/crypto-notcoin-explodes-to-4-54-billion-and-eclipses-solana/" target="_blank" rel="noopener noreferrer nofollow">digital Wild West</a>, a simple plugin can empty an account.</p>

Crypto – Security Breach at Binance! Your Wallet is in Danger!

Table of Contents

Cointribune EN

Other articles published on Jun 4, 2024

ICON CEO J Bradley Hall to Showcase Innovative AU Backed Digital Currency AUREALS™ at October BRI...

BlockDAG’s Moon Keynote Ignites $40.8M Presale Surge, Overshadowing XRP and BNB Predictions

Most Trending Cryptocurrencies on Polygon – LandRocker, Crosschain IOTX, Endblock

Settlement in FTX’s $24 Billion Case in the US: FTT Price Sees Volatility

22 Million Dollar Crypto Move from the 150-Year-Old English Football Team!

Meme Coins with Major Upside

Join our free newsletter for daily crypto updates!