A cryptocurrency trader known as “DoomXBT” claimed that hackers took $70,000 in digital currency from their Binance account after bypassing two-factor authentication.
DoomXBT denied Binance’s claim that the email address associated with the account had been compromised, stating additional security safeguards in place and no other unusual account activity.
Commentators were outraged by Binance’s support team’s apparent refusal to accept responsibility, and many questioned law enforcement’s ability to tackle cryptocurrencycurrency theft issues.
Binance’s CEO, Richard Teng, recognized the situation was severe and promised a thorough review by the security team. However, DoomXBT pointed out that Binance’s technical help has been unresponsive, perplexing them.
This follows other recent issues for the exchange, such as organizing the recovery of more than $4 billion in misdirected user deposits. It has also come under regulatory investigation following the detention of executives in Nigeria.
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