Binance API hackers suspected to be Russian.

And its not the first time they've done it either.

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Many of you probably still have the recent Binance debacle in which the exchanges API keys were hacked. Which resulted in user accounts having their cryptocurrency holdings drained and sold off at low prices. The hackers then pumped the price of Viacoin, dumping their bags at insane profits, hoping to ultimately retire from the heist.

It did not work out.

Over the course of a few months, the hackers were out and about using fake websites to collect user data. They managed to gain access to 31 Binance user accounts which they could then use to create an API key.

On March 19, Binance announced on their blog that they may have uncovered some interesting details pertaining to the incident. As can be seen from their blog post, Binance is not the only exchange that was being targeted by the hackers.

Among the domain owners contained here and provided in the post, the names of two Russian individuals keep popping up consistently. Additionally, it’s worth noting that these individuals have already been involved with previous phishing attacks related to Bittrex.

Luckily, Binance managed to keep everything calm and froze withdrawals at just the right time.

All funds are safe. There were irregularities in trading activity, automatic alarms triggered. Some accounts may have been compromised by phishing from before. We are still investigating. All funds are safe.

-Changpeng Zhao, Binance CEO, March 7, 2018.

More footprints back to Russia.

One of the individuals that suffered during the attack on Binance reported that an API key was created in his account from the following IP address, which routes back to the Russian town, Lipetsk.

This as all uncovered thanks to the recent bounty campaign that Binance launched with a $250,000 reward for those who provide the cryptocurrency exchange with details about the culprits.

Readers, take this as a lesson to always be careful with the assets that you keep on cryptocurrency exchanges. Binance is currently the most popular and best exchange in the market, and even with their security protocols and funds, issues even more serious than the discussed within this article may arise. Additionally, check out what happened to Coincheck.

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