Binance Not Liable for User’s $1M Loss, It Was Due To Compromised Device

The post Binance Not Liable for User’s $1M Loss, It Was Due To Compromised Device appeared first on Coinpedia Fintech News

Binance co-founder has addressed allegations over a security breach that led to a user losing $1 million in crypto. Yi He clarified that the user’s account was accessed via a compromised computer and the crypto hacker had sold the victim’s cryptocurrency after gaining access, which resulted in trading losses, and that Binance’s security systems were intact. However, Nakamao stated that the hacker manipulated his Binance account by controlling his web cookies. Binance’s customer service department claimed that the breach was conducted through a malicious plug-in that allowed the hacker to impersonate Nakamao.