The Crypto exchange Binance has found itself in trouble after sensitive material was shared on GitHub, an online software development platform. An account under the name Termf published including code and internal passwords.
The exchange stated that the breach contained internal code that posed a significant risk to the platform and could cause serious financial harm to the platform itself and its users.
The damage to the Binance crypto exchange appears to be less than expected
The worrying thing was that some of the leaked data concerned information about how Binance applied security measures, including passwords and the method of multi-factor authentication (MFA). Passwords were also leaked for specific systems that reside on the actual website, as opposed to systems used for development or demonstration purposes.
Following a takedown request from Binance for copyright infringement, the material was removed from GitHub. Binance only found out about the leaked data very late. The material has been publicly available since at least January 5th.
One reassurance for the platform’s users is that the leak likely did not lead to real hacks. A Binance spokesperson said its security team investigated the incident and concluded that the leaked data did not match the systems they are currently using.
They also emphasized that users’ data and assets are safe with them. Binance added that the leaked information posed little risk to the security of users and its platform.
Binance sued for terrorist financing
In a remarkable lawsuit, families of victims and hostages of the Hamas group, which the US has designated a terrorist group, are pitting against Binance. The accusationwhich represents US citizens affected by a Hamas attack on October 7, 2023, accuses Binance of facilitating financial transactions benefiting Hamas and other terrorist groups in Israel.
This case highlights the complex role of Cryptocurrency in international conflicts and the challenges surrounding data protection and the prevention of terrorist financing for crypto exchanges. Prosecutors also point to countries like Iran and Syria supporting the attacks, while cryptocurrency’s involvement in financing conflicts raises questions about the responsibility of financial platforms around the world.
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