In the latest development, a github hack leak revealed that Binance’s users’ data might be facing some threats with a large amount of KYC information now available on the dark web platforms. This led to a major buzz in the market forcing the Binance team to respond.
Binance Security Team Assures Saftey
In response to recent concerns raised by users, Binance’s security team has diligently evaluated the situation, as is customary for all potential threats. The team has conclusively confirmed that there is no indication of a leak from Binance systems, and user accounts remain secure.
Binance assures its users that their accounts are safeguarded against various potential risks. The exchange has incorporated multi-layered security measures in place, including Multi-Factor Authentication (MFA), biometrics, and authenticators.
Binance extends its appreciation to users who bring potential bugs and security issues to their attention. The proactive reporting also allows the platform to thoroughly investigate any concerns and, where necessary, take prompt action to enhance user protection. Furthermore, as the cryptocurrency landscape evolves, Binance said that it remains committed to maintaining the highest standards of security for its user base.
Last week, Binance also initiated quick action after freezing $4.2 million worth of XRP, stolen from co-founder Chris Larsen’s account. Binance CEO Richard Teng has affirmed his support for Ripple’s investigations and commitment to closely monitoring the external wallets of the exploiter.
Addressing the Rising Crypto Scams
Last week, Binance raised alarms about a troubling resurgence in cryptocurrency scams exploiting the current market conditions. Notably, scammers are exploiting the identities of industry figures such as Yi He, Binance’s co-founder, and Anndy Lian, a prominent blockchain author.
Impersonators have created deceptive LinkedIn profiles using Yi He’s identity to approach potential victims, offering token listings on Binance in exchange for significant payments. Yi He also emphasized her minimal involvement with LinkedIn and non-participation in listing discussions, urging caution against false claims of insider connections.
Additionally, Anndy Lian disclosed WhatsApp scams where fraudsters impersonate Binance staff, enticing individuals to join cryptocurrency groups with false promises of passive income.
Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author- “NFT: From Zero to Hero” and “Blockchain Revolution 2030”.
Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.
An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.