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The Binance hackers are turning the stolen Bitcoin into other crypto

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According to a report by Coinfirm, the 7,000 Bitcoin stolen from Binance on May 7 has been transferred by the hackers into various wallets. The hackers have been moving the Bitcoin around since the hack occurred.  

As per the report, Coinfirm has found evidence which shows that the hackers are moving their ill-gotten gains off of exchanges, perhaps with the intention of converting them into other cryptocurrencies.

The first transaction happened here while several others followed. However, its become known that the hackers have begun liquidating the Bitcoin on various exchanges.

“Analysis of one of the mainchains used by the hacker in layering stolen funds shows that they were able to liquidate at least 1.8087 BTC (21,000 USD) on the following exchanges,” said Coinfirm’s Grant Blaisdell. The transfers are as follows:

Bitfinex: 0,7934 BTC

Binance: 0,4294 BTC

Bitmex: 0,0022 BTC

KuCoin: 0,0713 BTC

Kuna: 0,2482 BTC

Bitmarket: 0,2560 BTC

Crypterra: 0,0072 BTC

Bitcoin.de: 0,0007 BTC

WazirX: 0,0003 BTC

As CoinDesk notes, it’s obvious the hacker has been moving the funds around and either left the chain or remained dormant.

Source:ambcrypto

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Binance Jersey To Compensate Hacker Who Got Hold Of Its Domain Name And Twitter Account

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Binance Jersey will issue a security bug bounty to the white hat hacker who got hold of its domain name and twitter account.

On August 16, Binance Jersey confessed that a hacker was successful in compromising its website’s domain name and also gaining access to its twitter handle, @BinanceJE. The hacker even went ahead to shoot out a few tweets using the compromised twitter handle. 

How He Did It

Although the behind-the-scenes intricacies of hacking are pretty complex, the whole process, at least as understood by many, seems simple. By just conducting a crafty social engineering, the hacker was able to compromise the domain name’s service provider and get hold of the domain name. He also got access to the Binance Jersey’s twitter account.

However, Binance Jersey was able to regain control of its internet domain name within a few minutes of the hacker, but the twitter handle took a few hours to retake. However, the good news is that the hacker was actually a white-hat hacker with no malicious intent. He contacted the company and was co-operative during the recovery process. 

Bug Bounty

Binance Jersey has since announced that it plans to award the hacker a bug bounty for helping it identify the security flaws that, if exploited by someone with malicious intent, could have cost the company millions of dollars. 

The company has also confirmed that no funds or data were affected by the hack. The tweets posted by the white hacker via the Binance Jersey twitter profile have since been deleted. 

BNB Is Still Strong

Despite this incident, Binance Coin, the crypto created by Binance Exchange, hasn’t been affected. At the time of this writing, BNB trades at around $27.70, with a total market cap of $4.3 billion and a 24-hour trading volume totaling around $173 million. 

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Binance Jersey to Reward Hacker Who Compromised Its Domain Name

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Cryptocurrency exchange Binance will compensate the white hat hacker who compromised Binance Jersey’s Internet domain name and Twitter account.

Binance Jersey Twitter and domain compromised

In a post published on Aug. 16, crypto exchange Binance Jersey announced that a white hat hacker was able to gain access to the @BinanceJE Twitter account (the official Binance Jersey profile) and the platform’s Internet domain name. Still, the company was able to recover the domain name within a few minutes, and the Twitter handle in some hours.

Per the announcement, the hacker obtained access “by social engineering the email domain name service provider,” and then posted a few tweets from the company’s official account, deleting them later. Furthermore, the hacker was reportedly cooperative and open during his communication with the exchange’s security team, which allowed for the quick recovery of the Twitter account. The firm notes:

“We were able to restore the domain name within a few minutes and the Twitter handle a couple of hours later. We will issue a security bug bounty to the white hat hacker, as well as investigate the incident further with our service provider. […] All funds on Binance.JE are safe. No data was compromised.”

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Screenshot of one of the tweets | Telegram channel Diddycarter’s ANN Channel

In one of the tweets from another account, reportedly controlled by the same hacker, they asked Binance CEO Changpeng Zhao to contact them personally. At press time, all of the hacker’s tweets have been deleted from Binance Jersey’s Twitter profile.

As Cointelegraph recently reported, the native token of crypto exchange Binance soared around 11%, despite the fresh rumors of a possible Know Your Customer data leak affecting exchange’s users.

Source:cointelegraph

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Binance to Enter the US Market in A Month or Two: CZ

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Binance is finally looking set to put its feet in the crypto market of United States. After hard work of more than 3 months the company is now prepared enough to make a debut in this huge cryptocurrency market within a month or two. This was revealed by none other than company’s CEO Changpenz Zhao (CZ) himself in a recent interview.

Binance is in the midst of an aggressive expansion plan that aims to cover every major cryptocurrency market. As part of these plans, it was obvious that they decided to set up an office in the US to provide their services. Having a physical presence is necessary to provide fiat-to-crypto trading services in the United States, as per the requirements of Fin Crimes Enforcement Network (FinCEN). There are some other requirements too, and Binance has been working to fulfill them as well. When CZ was asked yesterday by online news outlet Cheddar about what’s going on with all those things, and when do they plan to launch Binance in the US, here’s what he told:

“I don’t want to promise any fixed dates, but there’s a lot of work being done and there’s a lot of things going on in flux, but I would say in a month or two.”

The first time when we heard about the American plans of Binance was back in June when they had launched the service in partnership with local trading service provider BAM. However, they had to halt their services soon as regulators had reservations regarding their operations in the country. Here’s what CZ told about the BAM partnership in yesterday’s interview:

“The partnership with BAM Trading Services will help us navigate the US regulatory environment. Now we have our partner, we want to take this opportunity and explore the market.”

When asked about the regulatory ambiguity of US, he said:

“I think the US is one of the most developed markets because I think it has good regulations in the traditional finance space. Crypto is a new thing, and for new things, the US is a big country and with a lot of regulatory bodies and a very large market […] in a large market it is harder to regulate.”

Concluding his remarks, he said that he believes the US will come up with positive regulatory framework for crypto. He cited the regulations of country’s traditional financial service providers as an example, and said that he believes the things will improve in future.

Source :crypto-news.in

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