Binance Denies Security Breach Claims, Labels Exposed Information as Outdated
Summary:
Binance, the cryptocurrency exchange, has denied allegations of a security breach involving the exposure of sensitive internal passwords and code on GitHub. The report by 404 Media claimed that the exposed cache contained code, passwords, and technical info, but Binance responded that the information was outdated and posed a negligible risk. Binance successfully petitioned GitHub to remove the files and is pursuing legal action against the individual who shared the data.
Binance, the cryptocurrency exchange, has refuted allegations that critical, highly-sensitive internal passwords and code were unsecured on GitHub for several months, maintaining that the released code was outdated and presented a "negligible risk." A report by 404 Media published on January 31 indicated that a cache containing code, infrastructure diagrams, internal passwords, and other key technical details, including the exchange's methods for handling passwords and multi-factor authentication, had been exposed. Binance, however, managed to convince GitHub to erase the files through a copyright takedown request issued on January 24, arguing that the unauthorized exposure posed a substantial threat. An edited screenshot of the previously accessible data on GitHub was provided by 404 Media. A representative from Binance informed Cointelegraph that the individual had shared obsolete data on GitHub, asserting that their security team had verified that the cache did not mirror what is currently in use. Moreover, Binance reassured that the risk to the security of its users, their assets or the platform was negligible due to the information's outdated nature, claiming that it would be useless to any ill-intentioned third parties. Binance clarified that it acted swiftly to protect its intellectual property and to prevent any potential harm arising from unwarranted fears or misunderstanding regarding the exposure of private data, which is why it initiated a takedown request with GitHub and is seeking legal recourse against the individual involved. Despite this, multiple claims by Binance with GitHub insisted that the exposed information posed serious financial damage and could lead to Binance user confusion or damage. Binance declined to offer further comments on the issue. The report also highlighted the billion-dollar secret of DeFi and the people behind the hacks.
Published At
2/1/2024 8:54:17 AM
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