The account was allegedly breached through the Google Chrome extension Aggr, which saves cookie login information.
Yi He, co-founder of crypto exchange Binance, has dismissed claims that a platform security breach led to the loss of $1 million in crypto from a single user account. The Binance co-founder wrote on June 3:
The same day, crypto trader Nakamao alleged that they had lost their entire account balance through “counter-trading” without obtaining his Binance account password or 2FA instructions. “Afterwards, the security company told me that the hacker was manipulating my account by holding my web cookies hostage,” said Nakamao, who explained that after the account was breached, the hacker “bought the corresponding tokens in the USDT trading pair with abundant liquidity, and placed limit sell orders that exceeded the market price in the BTC, USDC and other trading pairs with scarce liquidity.”
Afterward, the hacker placed a large number of leveraged bets against a counterparty, which led to nearly $1 million in losses after the trades went the wrong way. "During the whole process, I did not receive any security reminders from Binance," Nakamao claims.
