The user Binance lost 2 BTC because not defended the account at the appropriate level

The user Binance lost 2 BTC because not defended the account at the appropriate level

The current state of the market, many were inconvenienced, but the user Reddit under the nickname BeanThe5th, somehow managed to worsen their situation, having lost two of bitcoin during a hacker attack on your account.

Yesterday BeanThe5th created a branch of discussions on the subreddit /r/cryptocurrency, describing the theft, which happened. Many users who read the story of the injured trader, surprised heard as Binance is one of the most reputable and safe exchange of the existing.

According to history, the thieves brought two of bitcoin. It is known that Binance is a daily limit of withdrawal, and to prevent criminals to withdraw more than 50 000 dollars in the cryptocurrency. Although some of the larger investors have criticized this limitation, in this situation it saved most of the funds to the account owner.

The hackers were also able to take control of all the pages of the social networking user, and other account tied to the email address. BeanThe5th owns the funds and on other exchanges, but the hackers did not get.

How did this happen?

A hacker or group of hackers managed to bypass two-factor authentication (2FA) using the method of “replacement SIM card”. This method of hacking requires criminals to pretend to be the owner of the SIM card. Then the criminals need to contact the phone provider sacrifices in order to translate all incoming information of the user to a new SIM card in the lost phone. So the hackers got the codes 2FA is BeanThe5th.

In addition, the attackers managed to take control of the user account to Google Authenticator, which uses Binance as another level of security.

Having access to the passwords of the victim, to withdraw funds from Binance proved easy.

Considering all these factors, it is obvious that this attack was carefully thought out and prepared.

The representative of the Binance also joined the discussions of the incident and asked the affected user call identification number of the request to the service support to expedite the proceedings. Later the Binance confirmed that the account was blocked a few minutes after the attack.

Security methods

Reddit users have proposed alternative methods of protection to ensure that the attack on means that user won’t happen again.

A JohnnyK10 gave good advice:

Not worth it to keep the same amount on the exchange. Cool hardware wallet is the most secure method of storage.

Many experts in the field of cryptocurrencies, along with the major holders, I believe that the best way to store cryptocurrencies in a secure hardware wallet, for example, the Ledger Nano. This significantly reduces the risk of tampering, and according to some completely negates the risk of attack.

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