The Binance crypto exchange is at the heart of a controversy. Indeed, it was discovered that there would be a leak of customer data. And worst of all, this sensitive crypto data would end up for sale on the darkweb. While Binance downplayed the incident, its users are now worried about the security of their accounts and their crypto assets.
Discovering Binance source code on Github
It was in January 2024 that a security researcher discovered part of Binance’s source code on the Github platform. This crypto code, publicly available for several months, contained critical elements: the management of passwords and two-factor authentication (2FA) of users.
Concretely, this crypto code made it possible to understand how Binance stores its users’ passwords, and how the platform manages validation via 2FA. Following this discovery, Binance quickly reacted, saying that this was not the code currently used by the platform. However, the prolonged presence of this crypto code on Github raises serious questions about the company’s practices regarding security and protection of its users’ data.
Crypto data from Binance customers for sale on the darkweb
A few weeks after the discovery of the Binance source code on Github, a new shadow hangs over the platform: a lot of crypto data from its customers is now found for sale on the darkweb.
According to several researchers, lists containing millions of email/password pairs, telephone numbers, and information linked to Binance accounts are circulating on illicit marketplaces. The price for obtaining this stolen data: only a few thousand dollars in crypto.
Although Binance denies any connection between this data leak and the previous Github code affair, the correlation seems obvious to many experts. The disclosure of technical information on password management and 2FA probably allowed hackers to precisely target the crypto platform.
Binance crypto users are now worried! Their personal and authentication data circulate freely on the darkweb, putting them at high risk of theft or account takeover. Some have already reported suspicious connection attempts on their account.
The Github source code affair followed by the leak of customer crypto data represents a real disaster for Binance. For its many users, trust is broken. Their data circulates freely on the crypto darkweb and their accounts no longer appear secure. Some are already considering leaving the platform or moving their crypto assets to safer alternatives.
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