Possible Hack Of Third-Party Tools Affects Binance Exchange Users

Possible Hack Of Third-Party Tools Affects Binance Exchange Users
A possible third-party tool hack has sold off Binancer users Altcoins at market price.

Users of Binance, the top cryptocurrency exchange in the world by trade volume, are reporting suspicious activity in their accounts stemming from an apparent hack on Reddit, March 7.

Binance has stated that the issues stem from third-party tools and that “there is no evidence” of the platform itself being compromised. The only users affected are those who have issued API keys on their accounts.

Reddit user shashankkgg originally posted in the Binance Exchange subreddit that all of their altcoins were sold at market rate.

Another Redditor wrote “My balance dropped by 25%, I now have VIA and 3 of my coins were sold in their entirety. I bought one of them back, only to have it sold again.”

According to their post on Reddit, Binance stated it is investigating user reports of “issues with [users’] funds.”

While Binance is investigating the issue, they have disabled all withdrawals.

Moderators of the CryptoCurrency subreddit recommend several courses of action for traders using a portfolio management tool or third-party trade bots that use Binance API keys. These include disabling those accounts on Binance or the tools themselves, disabling trade access to the API on Binance, or resetting the API key.

07.03.2018 / 10:20 105
Asian Altcoin Trading Roundup: Top Cryptocurrency is VeChain Asian Altcoin Trading Roundup: Top
Mid-week and markets have turned red once again as Asia leads the selloff. Bitcoin is leading the rout by sliding 4% on the day, and we are returning
Cryptocurrency Exchanges Slash Withdrawal Fees Cryptocurrency Exchanges Slash
In the past week, three of the most popular cryptocurrency exchanges have cut bitcoin withdrawal fees by up to half. While the average price of
How and Where To Buy Cryptocurrency? Overview How and Where To Buy Cryptocurrency?
An overview of different ways to buy cryptocurrency these days. Despite the recent news about banks closing their doors on credit card purchases of
All Best Features in One Platform, Created to Post Photos and to Earn Money! All Best Features in One Platform,
Hardly can one imagine a single day passing without at least a couple of photos taken… Selfies, photos of dear and near ones, beloved pets,
Comments (0)
Add a comment
Comment on