Hacker Sells Access to Binance's Law Enforcement Request Panel for $10,000

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by Alisa Davidson

Published: December 19, 2023 at 9:35 am Updated: December 19, 2023 at 9:35 am

by Victor Dey

Edited and fact-checked:
December 19, 2023 at 9:35 am

In Brief

A hacker is selling open access to Binance’s law enforcement request panel, and offering account data for $10,000.

Hacker Sells Access to Binance’s Law Enforcement Request Panel for ,000

A hacker is offering access to Binance’s law enforcement request panel, allowing an access to account data, for $10,000 in Bitcoin or Monero.

Binance’s law enforcement panel is provided by the third-party service provider Kodex. It is used by online financial institutions or social media platforms to validate law enforcement requests, verify credentials, and facilitate access.

According to reports, three computers owned by law enforcement officers in Taiwan, Uganda and the Philippines were compromised during a global malware campaign in 2023.

This compromise resulted in the theft of credentials stored in browsers and unauthorized entry into Binance‘s login panel.

Hacker Attacks are Growing in Crypto Industry

Instances of such attacks are growing more prevalent, and it does not necessarily indicate a compromise of Binance itself. Rather, the vulnerability lies in the overall network security of law enforcement organizations globally.

The susceptibility of EDRs (Email Distribution Requests) to manipulation by hackers, attributed to insufficient verification mechanisms and the extensive array of police jurisdictions, underscores the pressing necessity for a more secure and dependable process to manage these requests and mitigate the associated risks of fraudulent activities.

In a recent development, a French court acquitted two individuals accused in the Platypus stablecoin attack on the Avalanche network, where an alleged unauthorized withdrawal of $8.5 million occurred.

Stablecoin project Platypus USP, experienced a substantial loss as a result of a flash loan attack, leading to the withdrawal of approximately $8.5 million from one of its cryptocurrency pools.

The investigation gained traction after receiving information from the cryptocurrency exchange Binance, aiding investigators in tracing financial movements and apprehending the individuals involved.

In the face of escalating cyber threats, Binance grapples with a hacker attack that sheds light on broader vulnerabilities within global law enforcement networks and highlights the need for enhanced security measures.

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About The Author

Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and engagement with scientific writing.

Alisa Davidson