Bitrabo Editorial
A trader lost a significant amount of money on Binance due to a Chrome plugin exploit. The trader criticized the slow response from the exchange, which allowed the theft of his funds.
Exploit Leads to $1M Crypto Loss
In a recent incident, investor Doomxbt shared his experience of losing $70,000 from his Binance account in real-time due to unauthorized activity. Despite having two-factor authentication (2FA), he couldn’t stop the theft.
Following this, multiple users faced similar situations, with a Chinese trader losing $1 million. The trader, named CryptoNakamao, discovered that a malicious Chrome extension was behind the unauthorized trading activity.
Nakamao’s investigation revealed that the Chrome extension stole his browsing and cookie data, allowing the hacker to access his Binance account and execute leveraged trades to profit from various cryptocurrency pairs.
Binance’s Response to Allegations
Expressing disappointment, Nakamao criticized Binance for not preventing the hacker’s activities during their investigation. He mentioned that the exchange was aware of the extension through influencers promoting it.
Binance denied prior knowledge of the Chrome extension before Nakamao’s incident and clarified that they didn’t link it to Doomxbt’s case. The exchange stated they would investigate the influencer’s involvement in promoting the malicious plugin.
Community members began warning others about such exploits, and Binance mentioned they couldn’t compensate Nakamao as his account was compromised due to the malicious plugin installation.