1. A hacker asserts possession of crucial Binance software housing user information such as emails, phone numbers, and wallet IDs.
2. The hacker purportedly gained entry to this software via phishing emails aimed at law enforcement officials in Uganda, Taiwan, and the Philippines.
3. The hacker intends to sell the software for approximately $10,000.
4. Binance encountered a substantial $2.7 billion fine, while CX confronts a parallel fine amounting to $150 million.
Binance, a major cryptocurrency exchange, finds itself in a series of setbacks yet again, exacerbating its ongoing challenges.
The recent incident involves a cyber attacker who claims to have acquired access to Binance's software used for facilitating law enforcement requests. This software aids the exchange in collaborating with governmental bodies on criminal investigations. The hacker is purportedly selling access to this software for $10,000 in Bitcoin or Monero on Breach Forums, a dark web forum.
Reports suggest that the breach occurred through phishing emails sent to law enforcement officers in Uganda, the Philippines, and Taiwan. These emails contained malware that infiltrated the officers' devices, allowing the hacker to obtain browser credentials. With this illicit access, the hacker breached Binance's law enforcement portal on kodexglobal.com.
Allegedly, the compromised access includes sensitive information such as emails, phone numbers, wallet IDs, and potentially more details about Binance's customers. The hacker even shared screenshots of the breached portal on the aforementioned forum as evidence.
Despite the claims, Binance has not confirmed the veracity of the hacker's assertions. The exchange, however, assured that its customers' funds have remained secure thus far.
Moreover, Binance is grappling with legal troubles in the United States. A recent announcement by the Commodity Futures Trading Commission (CFTC) disclosed a court order for Binance to pay a substantial $2.7 billion fine. This penalty stems from alleged "ill-gotten fees" amounting to $1.35 billion collected from customers associated with US-designated terrorist groups, such as ISIS and al-Qaeda.
Consequently, Binance's CEO, Changpeng CZ Zhao, has faced a staggering $150 million fine for his purported involvement in the scheme. He had earlier stepped down from his CEO position under coercion earlier in the year.
In response to the court's decision, Binance has acknowledged and accepted the ruling. The exchange claims to have taken measures to enhance its compliance and risk management systems.
Disclaimer: Voice of Crypto strives to present accurate and current information; however, it disclaims responsibility for any potential omissions or inaccuracies. Given the high volatility of cryptocurrencies, prudent research is advised before making any financial decisions.
