BINANCE Delivers Some Good & Bad News About Phishing Attack

March 7th saw an attack on Binance.com carried out by some very crafty hackers.

For literally 2 minutes hackers manipulated the trading on VIACOIN . The price went from a low of $2.70 to $10.71 (a hefty 5x return for any VIA holders 😀). According to Binance their risk management system was triggered and immediately shutdown all withdrawing activity on the exchange.

For a while there Binance users were nail-biting and worried that their funds were somehow compromised.

The plan of attack was well coerced. The hackers initially provided a unicode url (2 dots below two letters in binance see below).

Users would then enter the site and enter their credentials which was stored. The hackers then used these accounts with the credentials they gained to purchase VIACOIN from their own accounts they previously depositing VIA into. So in essence they would end up getting the user's BTC for VIA.

Unfortunately for the hackers Binance halted the withdrawals of the BTC as well as any VIA that was not sold. Binance stated that there are still some users who won't be able to reverse their purchase of BTC for VIA because those trades were not carried out against any of the hacker accounts. They advise everyone to be careful and safeguard their accounts.

As of right now withdrawal activity has resumed.