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Binance Inches Faster to Revealing Hacking Group

Binance Inches Faster to Revealing Hacking Group

March 21, 2018 8:30 am,

The current effort to steal funds from Binance lingers in publics’ minds. Though the attack was eventually unsuccessful, it does paint a troublesome picture general. The linked phishing movement shows how “easy” it can be to operate cryptocurrencies in general. Phishing attacks are nothing innovative in the world of cryptocurrency, though.

Actually, there are fairly a few phishing operations lively currently. In the case of Binance, their hacker abundance program sheds some motivating light on how this attack was achieved. It seems this is not the work of a discrete user per se. Instead, there is most probably a group that is in control for this most recent growth. Though no one can be recognized at this point, that is a significant train of thought.

Moreover, the company also recognized some phishing domains involved in this new attack. Most of those domains use search engine marketing campaigns to advance a higher ranking. It is uncertain if this comprises Google’s own advertising option, but it seems very likely. It does perform these domains are not just used to target Binance by any means.

Cryptocurrency Phishing Is a Problem

Remarkably sufficient, the Binance hacker bounty exposes details about the people registering these domain names. Two detailed names seem to pop up more often than others. Most of the domains listed to these specific individuals are intended with malicious intent in mind. It is unclear if this evidence is legitimate or just someone using taken credit card data to register these domains.

Also, the Binance hacker bounty discloses suspicious VIA transactions. Most people know how Viacoin is a prominent altcoin which can be traded on various exchanges. Several transactions comprising 4,000 VIA each was exposed. More exactly, 31 such transfers exposed are interesting as they can be linked to the hacking attempt.