Crypto – Binance Security Breach! Your wallet is at risk!

Tue 04/06/2024 ▪
min reading ▪ acc
Eddie S.

In June 2024, the crypto community was shocked after a Chinese trader’s Binance account was hacked, losing $1 million. An attack enabled by the malicious Aggr plugin on Chrome exposes the risks facing cryptocurrency holders. Binance is criticized for its lack of responsiveness and transparency.

Crypto Binance SCAM

Crypto: An Unexpected Scam with Serious Consequences

On May 24, trader CryptoNakamao noticed suspicious movements on his Binance account. When he checks the bitcoin price, it’s too late: the hacker has already made a number of exchanges before draining the funds.

The victim then realizes that the Aggr plugin installed in Chrome was a Trojan that steals browsing data and cookies. Hackers were thus able to hijack an active session of a cryptocurrency trader without a password or two-factor authentication.

Sophisticated hacking techniques

This attack shows the creativity of hackers to bypass security measures and steal Bitcoins and other cryptocurrencies. Here, they used stolen cookies to cross-trade while simultaneously placing buy and sell orders on an illiquid pair.

Specifically, they bought many tokens in USDT, placed overpriced sell orders on BTC, USDC pairs, etc. Then used leverage to inflate prices and pocket profits without leaving a trace on the blockchain.

Binance inactivity highlighted

The trader claims that Binance has known about this fraudulent plugin for some time without taking action to protect cryptocurrency users. Despite the unusual amount and the victim’s complaints, the platform did not respond in time.

For CryptoNakamao, Binance failed by not alerting its community and quickly freezing suspect funds. This reflects cryptocurrency users’ concerns about the security and transparency of large centralized exchanges.

The case serves as a reminder that despite progress, the crypto ecosystem remains risky. As digital assets attract more investors, platforms like Binance need to strengthen their anti-fraud and protection systems. Everyone also needs to be aware of the dangers and adopt good cyber security reflexes to protect their crypto assets. Because in this digital Wild West, a simple plugin can drain your account.

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Eddie S avatar

Eddie S.

The world is evolving and adaptation is the best weapon to survive in this wavy universe. Essentially a crypto community manager, I am interested in anything directly or indirectly related to blockchain and its derivatives. To share my experiences and raise awareness of a field that fascinates me, there is nothing better than writing articles that are both informative and relaxing.


The comments and opinions expressed in this article are solely those of the author and should not be considered investment advice. Before making any investment decision, do your own research.

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