Binance denies security breach following claims of user data sale

Binance, the world's largest cryptocurrency exchange, has denied claims of a new security breach after a seller using the handle ShinyHunters offered alleged user data for sale on a cybercrime forum. DataBreaches.net, BleepingComputer, MLQ.ai, Crypto News, and The Cryptonomist all reported on the denial. A seller believed to be impersonating the ShinyHunters extortion group offered what they claimed were records of 335 million Binance users. [1][2][3][4][5]

According to MLQ.ai, the seller listed the records for $900,000. BleepingComputer reported that the allegedly stolen information included Know Your Customer data. Binance labeled the post as a scam attempt. [1][2][3][4][5]

Binance Holdings Ltd. is the largest cryptocurrency exchange by daily trading volume and was founded in 2017 by Changpeng Zhao. The company initially operated in China, moved to Japan, subsequently relocated to Malta, and currently operates without an official company headquarters. The ShinyHunters group originally began cyberattack activities in 2020 by exploiting unsecured cloud storage and repositories, later expanding to voice phishing tactics and enterprise cloud applications. [6][8][9]

As FTMQ Security reported earlier, Binance previously faced a major security incident that led former CEO Changpeng Zhao to call for industry unity after digital assets were stolen. That breach involved $6.34 billion, with stablecoin issuers freezing over $2.3 billion in assets linked to the event. [10]