Binance Account Hacked BeanThe5th

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Binance

After reporting his wealth online, Reddit user BeanThe5th reported that his Binance account (among other accounts) had been hacked through sim swapping and $50k worth of cryptocurrency was stolen. He does not appear to have even regained access to the accounts.

This is a global/international case not involving a specific country.

About Binance

"Hello, I have been impersonated and sim swapped, they hacked my emails, twitter, facebook, exchanges, literally everything including binance, which they stole 2 btc (daily limit) from today and will steal more if the account isn't frozen by tomorrow. They logged in and somehow disabled my google authenticator and I cannot get into my account, microsoft is working on giving me the hacked email back that is related to binance but they say it will take 3 days to escalate the ticket. In 3 days the hackers will have already taken my entire balance so I really need the binance account frozen now before they can steal more. Luckily I was able to freeze all other exchanges I had money on but please upvote guys I really need this resolved. Also if someone from Binance sees this I submitted support tickets under an alternate email but don't think that will do much and it definitely won't be answered within a day so please help me out :("

This is a global/international case not involving a specific country.

The background of the exchange platform, service, or individuals involved, as it would have been seen or understood at the time of the events.

Include:

• Known history of when and how the service was started.
• What problems does the company or service claim to solve?
• What marketing materials were used by the firm or business?
• Audits performed, and excerpts that may have been included.
• Business registration documents shown (fake or legitimate).
• How were people recruited to participate?
• Public warnings and announcements prior to the event.

Don't Include:

• Any wording which directly states or implies that the business is/was illegitimate, or that a vulnerability existed.
• Anything that wasn't reasonably knowable at the time of the event.

There could be more than one section here. If the same platform is involved with multiple incidents, then it can be linked to a main article page.

The Reality

This sections is included if a case involved deception or information that was unknown at the time. Examples include:

• When the service was actually started (if different than the "official story").
• Who actually ran a service and their own personal history.
• How the service was structured behind the scenes. (For example, there was no "trading bot".)
• Details of what audits reported and how vulnerabilities were missed during auditing.

What Happened

The specific events of the loss and how it came about. What actually happened to cause the loss and some of the events leading up to it.

Key Event Timeline - Binance Account Hacked BeanThe5th

Date	Event	Description
April 30th, 2018 3:01:30 AM MDT	Reddit Comment	Reddit comment reporting having a lot of cryptocurrency.
June 9th, 2018 10:16:53 PM MDT	Reddit Post	Reddit post for help from Reddit community.
July 15th, 2018 3:06:32 PM MDT	Still Locked Out	Reportedly still locked out of account.

Technical Details

This section includes specific detailed technical analysis of any security breaches which happened. What specific software vulnerabilities contributed to the problem and how were they exploited?

Total Amount Lost

The total amount lost has been estimated at $50,000 USD.

How much was lost and how was it calculated? If there are conflicting reports, which are accurate and where does the discrepancy lie?

Immediate Reactions

How did the various parties involved (firm, platform, management, and/or affected individual(s)) deal with the events? Were services shut down? Were announcements made? Were groups formed?

Ultimate Outcome

What was the end result? Was any investigation done? Were any individuals prosecuted? Was there a lawsuit? Was any tracing done?

Total Amount Recovered

There do not appear to have been any funds recovered in this case.

What funds were recovered? What funds were reimbursed for those affected users?

Ongoing Developments

What parts of this case are still remaining to be concluded?

Individual Prevention Policies

No specific policies for individual prevention have yet been identified in this case.

For the full list of how to protect your funds as an individual, check our Prevention Policies for Individuals guide.

Platform Prevention Policies

Policies for platforms to take to prevent this situation have not yet been selected in this case.

For the full list of how to protect your funds as a financial service, check our Prevention Policies for Platforms guide.

Regulatory Prevention Policies

No specific regulatory policies have yet been identified in this case.

For the full list of regulatory policies that can prevent loss, check our Prevention Policies for Regulators guide.