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Security Breach at Binance! Your Wallet is in Danger! | #hacking | #cybersecurity | #infosec | #comptia | #pentest | #hacker

9h03 ▪
min of reading ▪ by
Eddy S.

In June 2024, the crypto community is shocked after the hacking of a Chinese trader’s Binance account, who loses 1 million dollars. The attack, made possible by the malicious Aggr plugin on Chrome, reveals the risks faced by crypto holders. Binance is criticized for its lack of responsiveness and transparency.

Crypto: An Unexpected Scam with Heavy Consequences

On May 24, trader CryptoNakamao notices suspicious movements on his Binance account. When he checks the Bitcoin rate, it is too late: the hacker has already made many trades before draining the funds.

The victim then realizes that the Aggr plugin installed on Chrome was a Trojan horse stealing browsing data and cookies. The hackers were able to hijack the active session of the crypto trader without a password or two-factor authentication.

Sophisticated Hacking Techniques

This attack shows the creativity of hackers in circumventing security measures and stealing Bitcoins and other cryptos. Here, they used the stolen cookies to perform cross-trading, placing simultaneous buy and sell orders on a low-liquidity pair.

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

Binance’s Inaction Pointed Out

The trader claims that Binance knew about this fraudulent plugin for a while, without acting to protect crypto users. Despite unusual volumes and the victim’s complaints, the platform did not react in time.

For CryptoNakamao, Binance failed by not alerting its community and not quickly freezing suspicious funds. This reflects the concerns of crypto users about the security and transparency of major centralized exchange platforms.

This case reminds us that despite progress, the crypto ecosystem remains risky. As digital assets attract more investors, platforms like Binance must strengthen their anti-fraud and protection measures. Everyone must also be aware of the dangers and adopt good cybersecurity practices to protect their crypto assets. Because in this digital Wild West, a simple plugin can empty an account.

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Eddy S. avatarEddy S. avatar

Eddy S.

Le monde évolue et l’adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m’intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l’optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.


The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.


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