Binance Exchange has published an official message …

Binance has published an official message regarding the incident with Viacoin

Binance cryptocurrency exchange, suspicious activity on which could be one of the reasons for the fall in cryptocurrency rates on Wednesday, published an official comment on the incident.

According to her, it was a well-planned attack, for which the attackers had been preparing for at least several months..

The first phishing attacks were recorded in January, but their peak was in the second half of February. To gain access to user accounts, the attackers used unicode domains that almost completely duplicated the original binance.com address. So, in one of the cases, the only difference was two dots under two characters in the address.

After gaining access to user accounts, attackers simply created API keys without taking any other action until yesterday.

On Wednesday two minutes, using the API keys obtained in advance, the hackers placed a large number of buy orders in the VIA / BTC pair, thus artificially raising the Viacoin rate. After that, they tried to sell the cryptocurrency using 31 pre-funded accounts and withdraw the bitcoins thus obtained..

However, their attempt was unsuccessful, because by that moment an automatic risk management system had responded to suspicious activity, which blocked the possibility of withdrawing funds.

Binance Exchange has published an official message ...

“In addition, the VIA coins contributed by the hackers were also frozen. Hackers not only failed to steal anything, but also lost their own funds.

The hackers were well organized. They were patient enough not to take any action right away and waited for the most convenient moment. They chose VIA, a low liquidity cryptocurrency, to get the most benefit, ”writes Binance.

Recall that earlier Binance CEO Changpeng Zhao promised to donate the funds left by the hackers to charity.

Binance Exchange has published an official message ...

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