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My experience with Binance security

Binance

Cryptocoins Exchanges / Binance 171 Views

Binance might be considered n 1 crypto exchange in terms of products they offer , however their security SOPs are a scandal. My account was hacked on the 17th of February as i received an email of an attempted USDT withdrawal of my whole portfolio. Luckly the automatic system had rejected the withdrawal and my withdrawal and trading functions were temporarily locked awaiting for my KYC to be provided . I connect with customer support immediately asking what was happening and of course they started to copy paste procedures to me. Unable to talk with a decent customer support ( the Bot does a better job at listening to you ) , i secured my account according to their SOPs and provided with the required KYC. I also told them that i would have withdrawn to my bank account in Euros ( which is the only way i have ever withdrawn since i opened the account ) once they would have lifted the lock on my functions. I managed to verify my account. However , shortly after , I was receiving messages on my phone of somebody else successfully adding P2P method of payment , so i contacted support straight away but NOBODY was there to answer me. Despite following their securiy protocol , despite having 2fa , kyc verified account , enabled extra security measures like changing email , password and enabling mobile verification, the hacker was still in my account and managed to add P2P method ( how could they allowed them to do it ? My account was even KYC verified since many months back ) and withdrew all of my balance ( = life savings ) . Binance justified it by saying that the IP used was similar to mine ( let's not forget that not too long before it alerted the automatic system ). Binance told me that the case should be reported to the police and foward the report to their law enforcement department , which i did on the 18th of February and again after 1 week because nobody at customer support was able to tell me if the had received the report or not. I contact them almost every day : they were saying sorry for what happened and then putting me on hold for 6 hours so that i could speak with the "specialist" , eventually to have the same reply: contact us after the weekend ( law enforcement is off ) , then after 3 days , then after some days. Endless tickets opened and put on pending with no reply. I can say that up until now , there was NO response from Binance law enforcement . I cannot open a legal case against anybody because i have no information to provide the police with. Information that Binance has. I started to follow up the case with my lawyer and the answer that my lawyer received was that i am the sole responsible of the safety of my funds and that no report was sent to the law enforcement department. I feel hopeless and extremely disappointed by what it is considered the best exchange in the world. Best at not caring about your funds. If I can save at least one person from what i went through , that would be already a victory . But bitter for sure.

submitted by /u/Bea1691
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