Binance CEO Changpeng Zhao announced the irregular trades have been determined and will be reversed. He also addressed users to secure their accounts against future phishing attacks.
On Wednesday, Binance, the renowned cryptocurrency exchanges in the world by volume has been hacked.
Binance users complained about Reddit and Twitter by stating their altcoins had been converted into Bitcoins without their authorization. Most of the users had not signed into their accounts.
“Binance just sold all my alts at market rate, and I have got just the Bitcoin now. Is it because of account getting hack or binance bot issue? Have raised a ticket 715903 for this.”
“Same happened to me. I had 100% USDT worth $1548. Today I log in so I can buy some xrp, but my account balance is $200 out of $1548, and apparently, I bought 5 VIA coins and exchanges my USDT to BTC while I was in the gym?”
After observing several complaints, Bitcoin was used to purchase VIA coins for 0.025 BTC. The attackers organized to withdraw received Bitcoin in small amounts without disturbing the user’s concentration. Binance administration spends more than an hour to freeze withdrawals after receiving the first complaints from Reddit user.
“Do you use any trading bots like profit trailed or gunbot? Do you have any API opened for any services?”
Replying to the upraised questioned, Binance wrote on Twitter & Reddit.
Read More here: Binance CEO Changpeng Zhao
