Post
Topic
Board Trading Discussion
Re: Binance Has Been Hacked - Lost 7,074 BTC
by
mk4
on 08/05/2019, 15:32:53 UTC
There was no “hack invasion”. The article says that the hacker got a big number of API and credentials from users by using phishing attacks, virus and other methods. Thus, the big problem wasn’t on the exchange, but on the users. The part which was Binance’s fault is that they couldn’t block the massive withdrawal of 7k BTC before it happened.

Is there something I don't get here? If the stolen bitcoin was from vulnerable user's accounts as they have claimed, why was the withdrawal one massive transaction instead of multiple transactions of varying sizes from multiple wallets/accounts? Am I missing something here?