Binance Exchange Releases Public Response to Accusations of Negligence in Phishing Attacks and Delayed Freezing of Attacker’s Funds

Binance Exchange Releases Public Response to Accusations of Negligence in Phishing Attacks and Delayed Freezing of Attacker's Funds

Binance Exchange Releases Public Response to Accusations of Negligence in Phishing Attacks and Delayed Freezing of Attacker's Funds

In response to the previously reported “Million Dollar Theft Incident of Binance Users”, Binance publicly responded to the parties involved on its social media platform.

Regarding the accusations made by the victims, Binance emphasized that it did not notice any relevant information about the malicious plugin AGGR prior to the incident, nor did it realize the security threat it could pose.

Furthermore, addressing the criticism of slow processing speed, Binance’s security customer service had already processed the account freeze requests from the victims within 1 minute and 19 seconds. However, due to the existence of over 1,600 trading pairs and more than 8,000 transactions, Binance’s security and risk control team needed time to extract data for investigation. After ensuring the freezing of the suspected accounts, Binance immediately contacted other platforms for cross-platform fund freezing.

Binance stated that the main reason for the theft of the victims’ assets was the compromise of their personal devices, making it impossible for compensation to be provided. In terms of future platform optimization, Binance expressed its commitment to implementing multiple security improvement measures, including enhancing the storage security and backend verification of login status, as well as strengthening the detection of abnormal transactions.

Additionally, Binance advised users to only install the official Binance App, use browsers without plugins to access the Binance official website, and promptly log out of the application to avoid leaking login status.