The digital currency exchange Binance finds itself in the midst of a dispute. Indeed, it has been revealed that there is a data leakage of customer information. More alarming still, these confidential crypto details are purportedly being offered on the dark web. Binance has addressed the issue, but even though, users are now worried about the security of their accounts.
Github Incident and The Source Code
In January 2024, a security analyst discovered a portion of Binance’s source code on Github. This code was publicly accessible for several months and included important components. It included the administration of passwords and two-factor authentication (2FA) of users. This crypto code facilitated an understanding of how Binance stores user passwords, and how the platform manages validation via 2FA. After this discovery, Binance promptly responded, asserting that it was not the code currently utilized by the platform. However, the presence of this crypto code on Github raises serious questions about the company’s security practices and safeguarding of its data.
Binance Clients information are on the Dark Web for Sale
Once the source code was detected on Github, another shadow looms over the platform: numerous crypto details of its clients are now available for sale on the dark web.
According to researchers, compilations containing millions of emails, password pairs, phone numbers, and Binance account-related information are circulating on dark marketplaces. The cost for acquiring this data is just a few thousand dollars in crypto.
Despite Binance refuting any connection between this data leakage and the prior Github code incident, the correlation seems apparent to many experts. The revelation of technical details on password management and the 2FA likely enabled hackers to accurately target the crypto platform. Binance’s crypto users are now worried, Their personal and authentication data are freely circulating on the dark web, exposing them to a substantial risk of account theft or hacking. Some have even reported dubious login attempts on their account.
The Github source code incident followed by the crypto data leakage of clients represents a genuine catastrophe for the exchange. For its many users, confidence is shattered. Their data is freely circulating on the dark web of crypto, and their accounts no longer appear to be secure. Some are already contemplating leaving the platform or transferring their crypto assets to more secure alternatives.
