On February 29, an anonymous trader known as “DoomXBT’” shared a series of unusual posts on X (Twitter) preceding the loss of funds on Binance. The hacker manipulated the account by placing trade orders and borrowing funds before ultimately withdrawing the cryptocurrency assets.
Doom noted abrupt audible alerts indicating trade executions on their Binance account, suggesting a possible compromise. Although there were no withdrawals, the trader observed multiple trades conducted and assets swapped for BNB tokens.
Funds Withdrawal
The trader asserted that the account appeared secure as two-factor authentication was enabled. Nonetheless, the cryptocurrency user also noticed loan transactions being initiated within the account. When DoomXBT contacted Binance support, the funds converted into BNB were subsequently withdrawn.
The Binance account holder suspects that the funds were transferred to another exchange named SideShift, whom they have already reached out to. The trader voiced frustration and disappointment regarding the handling of the case by the Binance support representative.
Binance Community’s Response
Binance’s social media and community representatives responded to the trader, indicating that they had elevated the issue and were actively addressing it. The trader stated that Binance had been transferring him between customer service agents who consistently attributed the blame solely to hacked Google accounts.
In the meantime, members of the community expressed dissatisfaction with how the exchange’s customer service representative managed the situation. Several users on X argued that withdrawals should have been halted before the funds were moved.
Another community member mocked the Binance CEO for echoing the same response as the customer support representative. The community members said that they expect Binance to act swiftly and resolve the matter.
