Binance have discovered a large scale security breach today, May 7, 2019 at 17:15:24. Hackers were able to obtain a large number of user API keys, 2FA codes, and potentially other info. The hackers used a variety of techniques, including phishing, viruses and other attacks. Binance are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet.
The hackers were able to withdraw 7000 BTC in this one transaction: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea
The above transaction is the only affected transaction. It impacted Binance BTC hot wallet only(which contained about 2% of Binance total BTC holdings). All of Binance other wallets are secure and unharmed.
The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time. The transaction is structured in a way that passed Binance existing security checks. It was unfortunate that Binance were not able to block this withdrawal before it was executed. Once executed, the withdrawal triggered various alarms in Binance system. Binance stopped all withdrawals immediately after that.
Binance will use the #SAFU fund to cover this incident in full. No user funds will be affected.
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