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Hackers Steal Over 7,000 Bitcoin From Binance

Binance said it would conduct “a thorough security review” encompassing its systems and data during the next week

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Security expert Troy Hunt, who maintains a database of hacked account data, said picking a good password was the "single biggest control" people had over their online security. Pixabay

Hackers stole over 7,000 bitcoin from global cryptocurrency exchange Binance, which provides a platform for trading more than 100 cryptocurrencies.

“Hackers were able to obtain a large number of user API keys, 2FA codes… They used a variety of techniques, including phishing, viruses and other attacks. We are still concluding all possible methods used. There may also be additional affected accounts that have not been identified yet,” the start-up said in a statement late on Tuesday.

The hackers had the patience to wait, and execute well-orchestrated actions through multiple seemingly independent accounts at the most opportune time.

virtual currencies, bitcoin, investors
Bitcoin is a cryptocurrency and worldwide payment system. Wikimedia Commons

“The transaction is structured in a way that passed our existing security checks. It was unfortunate that we were not able to block this withdrawal before it was executed,” Binance added.

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“Once executed, the withdrawal triggered various alarms in our system. The start-up stopped all withdrawals immediately after that.”

Binance said it would conduct “a thorough security review” encompassing its systems and data during the next week. (IANS)

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Tech Giant Microsoft to Pay Hackers for Bug Bounty Programme

Microsoft recently launched Chromium-based Edge beta for Windows 10, 7, 8/8.1 and macOS

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Microsoft, Taiwan AI
A man walks past a Microsoft sign set up for the Microsoft BUILD conference at Moscone Center in San Francisco, April 28, 2015. VOA

Microsoft has launched a Bug Bounty Programme for Chromium Edge where the company is inviting cybersecurity experts across the world to identify vulnerabilities in the Chromium Edge browser, with rewards ranging from $1,000 to $30,000.

The company is offering rewards in various tiers. Spoofing and tampering reports would earn anywhere between $1,000 and $6,000. Information disclosure and remote code execution will be awarded between $1,000 and $10,000 and elevation of privilege will rake in between $5,000 to $15,000, Digital Trends reported on Sunday.

As per the report, $30,000 will be given in exchange for finding a combination of an Elevation of Privilege flaw and a Windows Defender Application Guard container escape.

Representational image.

“We are excited to expand our bounty programmes today to include the next version of Microsoft Edge and continue to grow and strengthen our partnership with the security research community.

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“We welcome researchers to seek out and disclose any high-impact vulnerabilities they may find in the next version of Microsoft Edge, based on Chromium, and offer rewards up to the US $30,000 for eligible vulnerabilities in Dev and Beta channels,” Jarek Stanley, senior program manager at Microsoft, said in a post.

Microsoft recently launched Chromium-based Edge beta for Windows 10, 7, 8/8.1 and macOS. (IANS)

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