A crypto trader, known as “DoomXBT,” recounted a distressing encounter on the Binance exchange shortly before losing $70,000 in digital assets to a hacker.
On Feb. 29, DoomXBT shared details on X about unusual incidents occurring on their Binance account, including unexpected order notifications and trades being executed without authorization. Despite having two-factor authentication enabled, the trader noticed trades being made and assets exchanged for BNB tokens.
DoomXBT reached out to Binance support upon noticing the suspicious activity. Despite their efforts, the hacker managed to withdraw the converted funds, allegedly transferring them to another exchange called SideShift.
The trader expressed dissatisfaction with Binance’s handling of the situation, feeling that blame was shifted to their Google account being hacked, despite having additional security measures in place.
Binance CEO Richard Teng responded to the thread, acknowledging the incident and assuring the trader that their security team is investigating.
However, community members criticized Binance for its customer service approach, suggesting that withdrawals should have been frozen sooner to prevent the unauthorized transfer of funds. Some users also pointed out similarities between the CEO’s response and that of the customer support representative.
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