Binance Refutes Claims of a Data Breach Involving 13 Million Users

Leading crypto exchange Binance has refuted circulating speculations of a data breach affecting almost 13 million users on its platform.

Amidst swelling speculations of a data breach on the largest crypto exchange by trading volume, Binance has refuted these claims. The exchange noted that it has investigated the assertions and found them to be false.

Data Breach?

Per a post on the dark web, a threat actor claimed he had obtained sensitive information of about 12.8 million Binance users. Firebear, as his username states, alleged he acquired the data during a platform comprise in August 2024.

Firebear, also known as Greavys, stated that the data contained first names, last names, e-mail addresses, zip codes, birthdays, and secondary addresses of these Binance users.

Furthermore, the cybercriminal asserted that this information was for sale, and he would auction it off either in parts or in whole to interested buyers through his Telegram account.

This concerning development drew skepticism among Binance users and the entire crypto community, as information of this nature could be used for cyber fraud and phishing activities.

It bears mentioning that Greavys and other dark web cybercriminals have successfully carried out notable scam activities before. In August, they posed as Google and Gemini representatives and exploited users’ Bitcoin wallets. The group used remote control software and obtained $242 million from victims.

Binance Refutes Claims

Meanwhile, Binance assured users that these claims were false. The exchange stated that its security team investigated the assertions and found no data breach in August.

Notably, the leading exchange was also involved in a data compromise scandal earlier in the year. In February, an account called Termf leaked what was allegedly private information of Binance users on GitHub.

The leaked data contained information like Binance’s internal passwords and multi-factor authentications. Notably, after a copyright request, Binance took down the GitHub post, claiming the contents were outdated.

Meanwhile, cybersecurity experts reacted to the supposed data breach, calling for caution. A researcher at Blockaid, Oz Tamir, advised Binance users to tighten security around their accounts.

Tamir noted that although Binance has denied the claims, events like this precede phishing attacks. He encouraged users to implement the two-factor authentication security layer to avert the chances of being victimized.