Binance heightens security after recent breach
Following a concerning event that raised alarms regarding security, the Binance cryptocurrency exchange has come forward with an important security notice for its extensive clientele.
On June 3, the Wu blockchain reported a potential security issue affecting some Binance accounts, which appeared to have been compromised due to the installation of the KOL-endorsed Google extension named Aggr.
Wu unveiled an incident involving a Chinese user who, after using this extension, faced a theft of $1 million through cross-trading activities on May 24. The attackers managed to circumvent password and two-factor authentication security checks using compromised cookies to access the victim's Binance account.
In light of this alarming development, Binance has communicated that its system has not been breached and remains secure.
Although the platform has not experienced a breach, Binance is encouraging its users to remain alert.
For safety, Binance recommends its users steer clear from installing browser extensions, highlighting the risk of malicious extensions that could harvest user data or jeopardize account integrity. Binance is urging its community to adopt certain protective measures to safeguard their accounts.
They advocate for the use of the official Binance Application or employing a clean web browser devoid of any third-party extensions when accessing the Binance site, along with signing out post-use.
In a detailed blog post, Binance lays out additional steps its patrons can take to enhance their account security.
It advises users to create a robust password, which should be changed regularly and kept confidential at all times. It also suggests safeguarding devices with the latest antivirus software and downloading apps and software exclusively from reputable and official sources.
Binance also cautions users to be skeptical of individuals claiming to be "Binance employees," as this is a common tactic used by fraudsters to deceive users. For heightened security, it is recommended to activate a withdrawal address whitelist feature, ensuring withdrawals can only be made to pre-verified addresses.
Furthermore, the activation of two-factor authentication and an anti-phishing code is strongly advised. With these safeguards in place, all authentic Binance communication will include a unique anti-phishing code.
