Binance and Kraken Thwart Hacker Attempts on User Data After Coinbase Breach

• Binance and Kraken fended off social engineering attacks.
• The attackers connived with insiders, just like in the recent Coinbase hack.
• Crypto platforms and users need to step up security.

Cryptocurrency exchanges Binance and Kraken have successfully thwarted efforts by hackers to illicitly acquire users’ data from their respective platforms. This incident happened a few days right after Coinbase Global placed a $20 million bounty on cyber criminals who connived with insiders to hack its platform and retrieved data affecting less than 1% of its users.

According to reports, the crypto exchanges foiled the attempts, ensuring the hackers did not gain access to sensitive users’ data. Although Binance and Kraken representatives haven’t commented on the development, there are no confirmations whether the hackers are the same group behind the recent Coinbase attack.

Hackers Employ Social Engineering for Data Theft, Impersonation, and Blackmail

Crypto companies and market participants are prime targets of hackers engaging in social engineering. Cybercriminals tend to steal users’ data, which they can manipulate negatively to gain dirty value. 

For ins…

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