A cryptocurrency trader, identified as "DoomXBT," recounted a distressing encounter on the Binance exchange, resulting in the loss of $70,000 worth of digital assets to a hacker. In a post on X dated February 29, DoomXBT detailed a series of suspicious activities observed on their Binance account, culminating in the unauthorized withdrawal of crypto assets.
The trader described a sequence of events starting with unusual order filling notifications on their Binance account, indicating potential compromise. While no direct withdrawals were made, DoomXBT noted unauthorized trades and conversions of assets to BNB Token. Despite having active two-factor authentication, the trader observed unauthorized loan transactions within their account.
Efforts to seek assistance from Binance support proved futile as funds exchanged for BNB were ultimately withdrawn, allegedly transferred to another exchange named SideShift. Expressing dissatisfaction with Binance's handling of the situation, DoomXBT lamented the lack of effective resolution and support from customer service agents.
Despite filing a police report as suggested by Binance, the trader remained skeptical about the authorities' ability to address the matter effectively. DoomXBT expressed doubts about the competence of the German police force in handling cybercrime-related incidents, based on personal experiences and interactions with others familiar with the matter.
In response to the incident, Binance CEO Richard Teng assured users that their security team was actively investigating the matter. Teng apologized for the inconvenience caused and pledged to provide updates as the investigation progressed. However, community members criticized the exchange's customer service approach, advocating for measures such as freezing withdrawals until the issue is resolved. Additionally, some users derided the CEO's response, noting similarities to those of customer support representatives.
