Binance Access Breach: Hacker Offers Law Enforcement Data for Sale Amid Legal Repercussions
Summary:
An individual offered to sell access to Binance’s law enforcement request panel on the digital platform Breach Forums for $10,000 in Bitcoin or Monero. The access purportedly leaked from compromised credentials of law enforcement officials from Taiwan, Uganda, and the Philippines. Binance, currently facing possible banning from the Philippines' SEC, also faces charges from the CFTC, demanding payments of $150 million from former CEO CZ Zhao and $2.7 billion from the exchange itself.
On December 14, an individual under the pseudonym “Miembro” posted on the digital platform Breach Forums offering to sell access to the law enforcement request panel of Binance for $10,000 in either Bitcoin (BTC) or Monero (XMR). This access, according to the post, gives exclusive data meant for law enforcement agencies, with the provision to handle unlimited requests within a time frame of three to seven days. Those interested have been invited to make their offers formally via the website portal, Telegram or Tox. The investigation by Hudson Rock researchers concluded that this system, managed by third-party service Kodex, verifies requests made by law enforcement.
The poster claims to have obtained this access via compromised credentials, purportedly of law enforcement officials. The credentials' compromise arose from three malware-infected computers, ultimately making its way to the unscrupulous individuals. The credentials reportedly were owned by officials from Taiwan's Criminal Investigation Bureau (CIB), Uganda Police Force (UPF), and Anti-Cybercrime Group (ACG) from the Philippine National Police (PNP). The report does not conclusively establish whether the credentials provided true access, but the poster reassures potential buyers by confirming that the access has been tested and "operates perfectly," able to handle data from emails, phone numbers, doc numbers, and even TXID or wallets.
Additionally, Binance is under the threat of a ban from the Philippines' Securities and Exchange Commission (SEC) for operating without registration. In further legal troubles, a US court on December 18 demanded that Binance's former CEO, Changpeng "CZ" Zhao, pay $150 million for breaching the Commodity Exchange Act (CEA) and CFTC rules, while the exchange itself was ordered to pay $2.7 billion in the recently concluded CFTC enforcement action. These recent developments add a wave of uncertainty and fear to the existing proposed cryptocurrency regulations in the US.
Published At
12/19/2023 4:21:31 PM
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