Binance Company Cyber Security Posture
binance.comBinance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a product suite that includes the world's largest digital asset exchange and much more. Trusted by over 200 millions of users worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. Posts are not directed towards UK users.
Binance Company Details
binance
10409 employees
820647.0
none
Technology, Information and Internet
binance.com
40
BIN_5080003
In-progress
Binance Risk Score (AI oriented)Between 900 and 1000
This score is AI-generated and less favored by cyber insurers, who prefer the TPRM score.
Binance Global Score.png)
Binance Company Scoring based on AI Models
| Model Name | Date | Description | Current Score Difference | Score |
|---|---|---|---|---|
| AVERAGE-Industry | 03-12-2025 | This score represents the average cybersecurity rating of companies already scanned within the same industry. It provides a benchmark to compare an individual company's security posture against its industry peers. | N/A | Between 900 and 1000 |
Binance Company Cyber Security News & History
| Entity | Type | Severity | Impact | Seen | Url ID | Details | View |
|---|---|---|---|---|---|---|---|
| Binance | Ransomware | 100 | 5 | 10/2022 | BIN1791022 | Link | |
Rankiteo Explanation : Attack threatening the organization's existenceDescription: Binance, largest crypto exchange suffered a massive cyber which temporarily halted the operation of its Binance Smart Chain. The hackers stole $570 million from a blockchain linked with Binance. However, Binance resumed its operations of the BSC chain after releasing a software update that froze the hackers’ accounts. | |||||||
| Binance | Breach | 100 | 5 | 03/2019 | BIN142717323 | Link | |
Rankiteo Explanation : Attack threatening the organization’s existenceDescription: One of the world’s largest cryptocurrency exchanges, Binance, has been breached, with criminal hackers stealing 7,000 bitcoins. The organisation confirmed that it had suffered a “large scale security breach” in a multi-layered attack. It was unfortunate that the company was not able to block this withdrawal before it was executed. The hackers used the information to make a single transaction, transferring the bitcoins from a hot wallet into an account they owned. | |||||||
| Binance | Breach | 100 | 5 | 7/2024 | BIN000071224 | Link | |
Rankiteo Explanation : Attack threatening the organization’s existenceDescription: Tigran Gambaryan, head of Binance's investigations and financial crime compliance, is detained in Nigeria under accusations of money laundering and tax evasion related to Binance's operations. His detention and the charges levied against him have raised international concern, with US Congress members advocating for his immediate release. This incident has implications for Binance's reputation and could potentially disrupt the company's compliance operations. Gambaryan's track record as a federal agent combating crypto crimes emphasizes the irony of his current situation, providing a stark contrast to the accusations he now faces. | |||||||
| Binance | Ransomware | 100 | 5 | 7/2024 | BIN000071324 | Link | |
Rankiteo Explanation : Attack threatening the organization’s existenceDescription: Tigran Gambaryan, an employee of cryptocurrency exchange Binance, was detained by the Nigerian government, heralding a dispute that has spurred international attention. Accused of financial crimes, Gambaryan, a former IRS criminal investigator with an extensive background in significant cryptocurrency-related criminal cases, has faced malaria and pneumonia while in custody. The incident has strained diplomatic relations, with U.S. officials and Congress members actively seeking his release and deeming his detention a means of extortion by the Nigerian government. The ongoing detention and the health issues it has engendered, as well as the growing political pressure, highlight the risks associated with cryptocurrency exchanges operating internationally. | |||||||
| Binance | Cyber Attack | 100 | 5 | 7/2024 | BIN000071424 | Link | |
Rankiteo Explanation : Attack threatening the organization’s existenceDescription: Tigran Gambaryan, an employee of cryptocurrency exchange Binance, was detained in Nigeria on charges of tax evasion and money laundering, allegedly as a means of extorting Binance. His detention highlights the risks associated with international negotiations and the impact on personnel acting in official capacities. Despite being invited for a dispute settlement, he experienced a severe violation of rights, further complicated by health concerns and lack of proper care. This situation escalates diplomatic tensions and spotlights Binance in the wake of financial crime accusations. | |||||||
| Binance | Breach | 100 | 5 | 10/2024 | BIN000102424 | Link | |
Rankiteo Explanation : Attack threatening the organization’s existenceDescription: Gambaryan, an ex-IRS investigator and Binance executive, was jailed in Nigeria for alleged money laundering and tax evasion. He was invited to Nigeria to discuss issues between the Nigerian government and Binance, including accusations of money laundering and contributing to the devaluation of the Nigerian currency. His health has worsened in prison, requiring urgent medical care for a herniated disc. Though the charges have been dropped on medical grounds, he remains in Nigeria, and pressure from the US continues for his release. Gambaryan's case has drawn international attention, and congressional members have urged considering it a hostage scenario. | |||||||
Binance Company Subsidiaries
Binance is the world’s leading blockchain ecosystem and cryptocurrency infrastructure provider with a product suite that includes the world's largest digital asset exchange and much more. Trusted by over 200 millions of users worldwide, the Binance platform is dedicated to increasing the freedom of money for users, and features an unmatched portfolio of crypto products and offerings, including: trading and finance, education, data and research, social good, investment and incubation, decentralization and infrastructure solutions, and more. Posts are not directed towards UK users.
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Binance Cyber Security News
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In a startling development, reports have surfaced alleging a significant data breach involving the cryptocurrency exchange Binance.
5 Shocking Crypto Truths Binance Just exposed
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Binance CEO met with Hong Kong police to enhance cybersecurity collaboration, while the exchange is expanding its fraud prevention efforts.
AI Clones of Binance Users, Telegram Bug Dispute & Cybersecurity News
Fraudsters are using AI to copy the faces of customers of cryptocurrency exchange Binance and further bypass the biometrics verification ...
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President Sadyr Japarov met with Changpeng Zhao, founder of Binance, the world's largest cryptocurrency exchange, to discuss the future of digital assets.
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Frequently Asked Questions
Explore insights on cybersecurity incidents, risk posture, and Rankiteo's assessments.
Binance CyberSecurity History Information
How many cyber incidents has Binance faced?
Total Incidents: According to Rankiteo, Binance has faced 6 incidents in the past.
What types of cybersecurity incidents have occurred at Binance?
Incident Types: The types of cybersecurity incidents that have occurred incidents Cyber Attack, Breach and Ransomware.
What was the total financial impact of these incidents on Binance?
Total Financial Loss: The total financial loss from these incidents is estimated to be $570.01 million.
How does Binance detect and respond to cybersecurity incidents?
Detection and Response: The company detects and responds to cybersecurity incidents through third party assistance with U.S. officials, Congress members and communication strategy with Advocacy by US Congress members and containment measures with Software update to freeze hackers' accounts and recovery measures with Resumed operations of the BSC chain.
Incident Details
Can you provide details on each incident?
Incident : Money Laundering, Tax Evasion
Title: Arrest and Detention of Ex-IRS Investigator and Binance Executive in Nigeria
Description: Gambaryan, an ex-IRS investigator and Binance executive, was jailed in Nigeria for alleged money laundering and tax evasion. He was invited to Nigeria to discuss issues between the Nigerian government and Binance, including accusations of money laundering and contributing to the devaluation of the Nigerian currency. His health has worsened in prison, requiring urgent medical care for a herniated disc. Though the charges have been dropped on medical grounds, he remains in Nigeria, and pressure from the US continues for his release. Gambaryan's case has drawn international attention, and congressional members have urged considering it a hostage scenario.
Type: Money Laundering, Tax Evasion
Threat Actor: Nigerian Government
Motivation: Money Laundering, Tax Evasion
Incident : Extortion
Title: Detention of Binance Employee Tigran Gambaryan in Nigeria
Description: Tigran Gambaryan, an employee of cryptocurrency exchange Binance, was detained in Nigeria on charges of tax evasion and money laundering, allegedly as a means of extorting Binance. His detention highlights the risks associated with international negotiations and the impact on personnel acting in official capacities. Despite being invited for a dispute settlement, he experienced a severe violation of rights, further complicated by health concerns and lack of proper care. This situation escalates diplomatic tensions and spotlights Binance in the wake of financial crime accusations.
Type: Extortion
Attack Vector: Legal/Diplomatic
Threat Actor: Unknown
Motivation: Financial Gain
Incident : Detention and Extortion
Title: Detention of Binance Employee Tigran Gambaryan by Nigerian Government
Description: Tigran Gambaryan, an employee of cryptocurrency exchange Binance, was detained by the Nigerian government, accused of financial crimes. The incident has strained diplomatic relations and highlighted the risks associated with cryptocurrency exchanges operating internationally.
Type: Detention and Extortion
Threat Actor: Nigerian Government
Motivation: Extortion
Incident : Legal Incident
Title: Detention of Binance's Head of Investigations and Financial Crime Compliance
Description: Tigran Gambaryan, head of Binance's investigations and financial crime compliance, is detained in Nigeria under accusations of money laundering and tax evasion related to Binance's operations. His detention and the charges levied against him have raised international concern, with US Congress members advocating for his immediate release. This incident has implications for Binance's reputation and could potentially disrupt the company's compliance operations. Gambaryan's track record as a federal agent combating crypto crimes emphasizes the irony of his current situation, providing a stark contrast to the accusations he now faces.
Type: Legal Incident
Threat Actor: Nigerian Authorities
Motivation: Money Laundering, Tax Evasion
Incident : Cryptocurrency Theft
Title: Binance Cryptocurrency Exchange Breach
Description: Criminal hackers stole 7,000 bitcoins from Binance, one of the world’s largest cryptocurrency exchanges, in a large scale security breach.
Type: Cryptocurrency Theft
Attack Vector: Multi-layered attack
Threat Actor: Criminal hackers
Motivation: Financial gain
Incident : Cyber Attack
Title: Binance Smart Chain Hack
Description: Binance, the largest crypto exchange, suffered a massive cyber attack which temporarily halted the operation of its Binance Smart Chain. The hackers stole $570 million from a blockchain linked with Binance. However, Binance resumed its operations of the BSC chain after releasing a software update that froze the hackers’ accounts.
Type: Cyber Attack
Threat Actor: Hackers
Motivation: Financial Gain
What are the most common types of attacks the company has faced?
Common Attack Types: The most common types of attacks the company has faced is Breach.
Impact of the Incidents
What was the impact of each incident?
Incident : Extortion BIN000071424
Brand Reputation Impact: Diplomatic Tensions, Financial Crime Accusations
Legal Liabilities: ['Tax Evasion', 'Money Laundering']
Incident : Detention and Extortion BIN000071324
Brand Reputation Impact: Strained diplomatic relations, International attention
Incident : Legal Incident BIN000071224
Operational Impact: Potential disruption to compliance operations
Brand Reputation Impact: Significant
Legal Liabilities: Detention and potential legal charges
Incident : Cryptocurrency Theft BIN142717323
Financial Loss: 7,000 bitcoins
Systems Affected: Hot wallet
Incident : Cyber Attack BIN1791022
Financial Loss: $570 million
Systems Affected: Binance Smart Chain
Downtime: Temporary halt of BSC operations
Operational Impact: Temporary halt of operations
What is the average financial loss per incident?
Average Financial Loss: The average financial loss per incident is $95.00 million.
Which entities were affected by each incident?
Incident : Money Laundering, Tax Evasion BIN000102424
Entity Type: Cryptocurrency Exchange
Industry: Financial Services
Location: Global
Incident : Extortion BIN000071424
Entity Type: Company
Industry: Cryptocurrency Exchange
Location: Global
Incident : Detention and Extortion BIN000071324
Entity Type: Cryptocurrency Exchange
Industry: Finance
Location: International
Incident : Legal Incident BIN000071224
Entity Type: Cryptocurrency Exchange
Industry: Financial Services
Location: Global
Size: Large
Incident : Cryptocurrency Theft BIN142717323
Entity Type: Cryptocurrency Exchange
Industry: Financial Services
Size: Large
Response to the Incidents
What measures were taken in response to each incident?
Incident : Detention and Extortion BIN000071324
Third Party Assistance: U.S. officials, Congress members
Incident : Legal Incident BIN000071224
Communication Strategy: Advocacy by US Congress members
Incident : Cyber Attack BIN1791022
Containment Measures: Software update to freeze hackers' accounts
Recovery Measures: Resumed operations of the BSC chain
How does the company involve third-party assistance in incident response?
Third-Party Assistance: The company involves third-party assistance in incident response through U.S. officials, Congress members.
Data Breach Information
How does the company handle incidents involving personally identifiable information (PII)?
Handling of PII Incidents: The company handles incidents involving personally identifiable information (PII) through was Software update to freeze hackers' accounts.
Ransomware Information
How does the company recover data encrypted by ransomware?
Data Recovery from Ransomware: The company recovers data encrypted by ransomware through Resumed operations of the BSC chain.
Regulatory Compliance
Were there any regulatory violations and fines imposed for each incident?
Incident : Legal Incident BIN000071224
Regulations Violated: Money Laundering, Tax Evasion
Legal Actions: Detention and potential legal charges
How does the company ensure compliance with regulatory requirements?
Ensuring Regulatory Compliance: The company ensures compliance with regulatory requirements through Detention and potential legal charges.
Investigation Status
What is the current status of the investigation for each incident?
Incident : Legal Incident BIN000071224
Investigation Status: Ongoing
How does the company communicate the status of incident investigations to stakeholders?
Communication of Investigation Status: The company communicates the status of incident investigations to stakeholders through was Advocacy by US Congress members.
Post-Incident Analysis
What is the company's process for conducting post-incident analysis?
Post-Incident Analysis Process: The company's process for conducting post-incident analysis is described as U.S. officials, Congress members.
Additional Questions
General Information
Who was the attacking group in the last incident?
Last Attacking Group: The attacking group in the last incident were an Nigerian Government, Unknown, Nigerian Government, Nigerian Authorities, Criminal hackers and Hackers.
Impact of the Incidents
What was the highest financial loss from an incident?
Highest Financial Loss: The highest financial loss from an incident was $570 million.
What was the most significant system affected in an incident?
Most Significant System Affected: The most significant system affected in an incident was Hot wallet and Binance Smart Chain.
Response to the Incidents
What third-party assistance was involved in the most recent incident?
Third-Party Assistance in Most Recent Incident: The third-party assistance involved in the most recent incident was U.S. officials, Congress members.
What containment measures were taken in the most recent incident?
Containment Measures in Most Recent Incident: The containment measures taken in the most recent incident was Software update to freeze hackers' accounts.
Regulatory Compliance
What was the most significant legal action taken for a regulatory violation?
Most Significant Legal Action: The most significant legal action taken for a regulatory violation was Detention and potential legal charges.
Investigation Status
What is the current status of the most recent investigation?
Current Status of Most Recent Investigation: The current status of the most recent investigation is Ongoing.
What Do We Measure?
Every week, Rankiteo analyzes billions of signals to give organizations a sharper, faster view of emerging risks. With deeper, more actionable intelligence at their fingertips, security teams can outpace threat actors, respond instantly to Zero-Day attacks, and dramatically shrink their risk exposure window.
These are some of the factors we use to calculate the overall score:
Identify exposed access points, detect misconfigured SSL certificates, and uncover vulnerabilities across the network infrastructure.
Gain visibility into the software components used within an organization to detect vulnerabilities, manage risk, and ensure supply chain security.
Monitor and manage all IT assets and their configurations to ensure accurate, real-time visibility across the company's technology environment.
Leverage real-time insights on active threats, malware campaigns, and emerging vulnerabilities to proactively defend against evolving cyberattacks.
