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RE: Binance Hack and SEC "Statement on Potentially Unlawful Online Platforms for Trading Digital Assets"
Thank you for this wonderful post and video. You rock! This is why you are my witness. Please continue the good fight. By the way, I heard the attack was with APIs so 2FA wouldn't have helped :-(. That is why I buy and sell on exchanges but never leave value on the exchange. I get in and get out. One last point. I'm a big fan of cryptobridge (DEX) based on bitshares but has some crypto that are not on BTS like Smartcash.
I think 2FA would have helped because they used a phishing attack to get into the account. If you think you're logging into a site but you don't get asked for 2FA, you know something isn't right. What definitely would have helped would be using a password manager browser plugin like 1Password which only fills passwords if the URL matches what is already saved.
Once they had access to the account, they used the APIs to control the heist later. People should also check their login history and verify the IPs make sense.
And yes, I'm a fan of CryptoBridge as well. My last post was about RavenCoin which is currently only trading on CryptoBridge.
Thanks for the SmartCash tip :)
Yeah you make great recommendations. I too am a big fan of 1Password. I don't know what I would do without it. You are correct about the 2FA and the phishing attack. They broke into the accounts then enabled the APIs. Very nasty. However, I heard that Binance was able to respond fast enough to keep them from withdrawing from the 31 accounts they created ahead of time that owned the VIA coin that they sold into BTC. Binance was able to replay the transaction and restore the money back to the people that got hacked. I haven't confirmed what I just wrote but I heard this from Crypt0.
You are welcome for the SmartCash. Enjoy
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