Crypto trader suffers $70,000 loss within seconds in a Binance exchange breach, detailing a “peculiar” incident.
On Thursday, a trader identified as “DoomXBT” shared a post recounting their experience of being hacked on Binance, expressing concern over the unusual events.
The hacker conducted various transactions on the compromised account, including creating trade orders and obtaining loans, before ultimately withdrawing the trader’s cryptocurrency assets. DoomXBT highlighted the unexpected sound notifications of orders being filled on the Binance account during the breach, indicating a potential security breach.
Despite having two-factor authentication enabled, the trader was unable to prevent the unauthorized activity. By the time DoomXBT reached out to Binance support, approximately $70,000 worth of assets had been converted to BNB tokens and withdrawn by the hacker.
In addition to expressing dissatisfaction with Binance’s handling of the situation, DoomXBT mentioned suspicions that the funds were transferred to another platform called Sideshift, although attempts to contact them for assistance yielded no response.
Binance’s social media lead, @AlexOnchain, responded to the post, pledging to escalate the matter to the relevant team for immediate attention. However, DoomXBT expressed frustration with the customer support’s handling of the issue, highlighting a lack of resolution.
Binance CEO Richard Teng also acknowledged the incident, confirming that the exchange’s security team was actively investigating the matter. However, his response drew criticism from some commenters who deemed it similar to previous messages from customer support representatives.