Recently, a crypto trader named Nakamao claimed that his Binance account was hacked, resulting in the loss of nearly $1 million. Following this claim, Yi He, co-founder of Binance, made a statement denying that a security breach on Binance caused the loss. Yi He asserted that the hack Nakamao experienced was due to his own computer being compromised. She explained that the hacker not only withdrew the massive funds but also sold all of Nakamao’s coins, leading to trading losses.
Binance single user lost $1 million, Here’s how
On the same day, Nakamao posted on X (previously Twitter), stating that he lost all of his $1 million without receiving any warning from Binance and without his Binance password and 2FA being compromised. He further added:
“During my subsequent investigation with a security company, I found something even more shocking. In the end, I realized that I was a victim of an undercover agent in the cryptocurrency circle. The whole thing was too bizarre. I mustered up the courage to write down this story today so that others would not repeat my mistakes. I never thought that my assets would be cleared out in this way. I want to warn crypto investors not to become the next me!”
Additionally, the hacker made multiple trades using Nakamao’s account, causing the prices of QTUM/BTC, DASH/BTC, PYR/BTC, ENA/USDC, and NEO/USDC to soar dramatically due to purchases made from his account. QTUM/BTC rose by 21%, DASH/BTC by 27%, PYR/BTC by 31%, ENA/USDC by 22%, and NEO/USDC by 20%.
Here’s what Binance advice its users
However, the security company later revealed that the hacker had exploited Nakamao’s web cookies. Despite the suspicious activity, Nakamao received no security alerts from Binance. Instead, he received an email congratulating him on his trading volume. Nakamao also added that Binance neither warned nor froze his account, leaving him confused.
Amid the confusion about whether it was a platform hack or a hack of the victim’s computer, Binance’s official X account made a public announcement clarifying that there had been no security breach on the Binance platform. They also advised, “Avoid installing browser plugins as malicious plugins can steal your data and compromise your account security.”
