Binance Vendor Cyber Rating & Cyber Score

Incident Types: The types of cybersecurity incidents that have occurred include Ransomware, Cyber Attack and Breach.

Total Financial Loss: The total financial loss from these incidents is estimated to be $570.01 million.

Detection and Response: The company detects and responds to cybersecurity incidents through an containment measures with software update to freeze hackers' accounts, and recovery measures with resumed operations of the bsc chain, and communication strategy with advocacy by us congress members, and containment measures with users advised to disable the vulnerable extension and upgrade to v2.69, and remediation measures with release of patched version (v2.69), and communication strategy with public advisory to users, and containment measures with database taken offline by hosting provider, and containment measures with database taken offline by hosting provider, and third party assistance with kaspersky..

Common Attack Types: The most common types of attacks the company has faced is Breach.

Identification of Attack Vectors: The company identifies the attack vectors used in incidents through Malicious browser extension update, Infostealing Malware, Phishing, Malicious Downloads, Compromised Websites and Fake Google Play Store website (*cupomgratisfoodshop*).

Average Financial Loss: The average financial loss per incident is $71.25 million.

Commonly Compromised Data Types: The types of data most commonly compromised in incidents are Private keys, Usernames, Passwords, , Usernames, Passwords, Banking/Credit Card Details, , Login Credentials, Wallet Addresses, Personally Identifiable Information and .

Third-Party Assistance: The company involves third-party assistance in incident response through Kaspersky.

Prevention of Data Exfiltration: The company takes the following measures to prevent data exfiltration: Release of patched version (v2.69).

Handling of PII Incidents: The company handles incidents involving personally identifiable information (PII) through by software update to freeze hackers' accounts, , users advised to disable the vulnerable extension and upgrade to v2.69, database taken offline by hosting provider and database taken offline by hosting provider.

Data Recovery from Ransomware: The company recovers data encrypted by ransomware through Resumed operations of the BSC chain, .

Ensuring Regulatory Compliance: The company ensures compliance with regulatory requirements through Detention and potential legal charges.

Key Lessons Learned: The key lessons learned from past incidents are The incident highlights the risks of unsecured databases and the widespread impact of infostealer-driven breaches. It underscores the need for better security practices to prevent credential harvesting and unauthorized access.The incident underscores persistent vulnerabilities in data security practices, particularly the risks of unsecured databases and the accessibility of cybercrime tools. Stolen credentials can circulate on underground forums, prolonging the threat long after the initial leak.Evolving tactics of mobile malware, particularly in regions with high digital banking adoption; importance of verifying app sources and permissions.

Implemented Recommendations: The company has implemented the following recommendations to improve cybersecurity: Users should avoid entering private keys in browser extensions and use desktop/mobile versions instead. Regularly update wallet software., Avoid downloading apps from unofficial sources, scrutinize app permissions, use multi-factor authentication and and monitor device performance for unusual activity..

Additional Resources: Stakeholders can find additional resources on cybersecurity best practices at and Source: ZachXBT (Blockchain Researcher), and Source: Security Researcher Jeremiah Fowler, and Source: Kaspersky.

Communication of Investigation Status: The company communicates the status of incident investigations to stakeholders through Advocacy by US Congress members and Public advisory to users.

Advisories Provided: The company provides the following advisories to stakeholders and customers following an incident: were Trust Wallet team and Binance (former CEO) advised users to upgrade and offered compensation., Users advised to disable the vulnerable extension, withdraw funds via desktop/mobile and and avoid entering private keys in the extension..

Post-Incident Analysis Process: The company's process for conducting post-incident analysis is described as Kaspersky.

Corrective Actions Taken: The company has taken the following corrective actions based on post-incident analysis: Release of patched version (v2.69) and user advisories., Database taken offline, further investigation needed, Enhanced user education on app permissions, stricter app store vetting, and improved detection of fake overlays..

Last Attacking Group: The attacking group in the last incident were an Hackers, Criminal hackers, Nigerian Authorities and Nigerian Government.

Most Recent Incident Detected: The most recent incident detected was on 2023-12-24.

Highest Financial Loss: The highest financial loss from an incident was $570 million.

Most Significant Data Compromised: The most significant data compromised in an incident were Private keys, 149 million credentials, 149 million usernames and passwords, Login credentials, wallet addresses and personally identifiable information.

Most Significant System Affected: The most significant system affected in an incident was Binance Smart Chain and and and and .

Third-Party Assistance in Most Recent Incident: The third-party assistance involved in the most recent incident was Kaspersky.

Containment Measures in Most Recent Incident: The containment measures taken in the most recent incident were Software update to freeze hackers' accounts, Users advised to disable the vulnerable extension and upgrade to v2.69, Database taken offline by hosting provider and Database taken offline by hosting provider.

Most Sensitive Data Compromised: The most sensitive data compromised in a breach were 149 million credentials, Private keys, 149 million usernames and passwords, Login credentials, wallet addresses and personally identifiable information.

Number of Records Exposed in Most Significant Breach: The number of records exposed in the most significant breach was 298.0M.

Most Significant Legal Action: The most significant legal action taken for a regulatory violation was Detention and potential legal charges.

Most Significant Lesson Learned: The most significant lesson learned from past incidents was The incident highlights the risks of unsecured databases and the widespread impact of infostealer-driven breaches. It underscores the need for better security practices to prevent credential harvesting and unauthorized access., The incident underscores persistent vulnerabilities in data security practices, particularly the risks of unsecured databases and the accessibility of cybercrime tools. Stolen credentials can circulate on underground forums, prolonging the threat long after the initial leak., Evolving tactics of mobile malware, particularly in regions with high digital banking adoption; importance of verifying app sources and permissions.

Most Significant Recommendation Implemented: The most significant recommendation implemented to improve cybersecurity was Educate users on the risks of infostealing malware, Use multi-factor authentication to mitigate credential theft, Implement stricter access controls for databases, Enhance monitoring for unauthorized access, Avoid downloading apps from unofficial sources, scrutinize app permissions, use multi-factor authentication, and monitor device performance for unusual activity. and Users should avoid entering private keys in browser extensions and use desktop/mobile versions instead. Regularly update wallet software..

Most Recent Source: The most recent source of information about an incident are ZachXBT (Blockchain Researcher), Kaspersky and Security Researcher Jeremiah Fowler.

Current Status of Most Recent Investigation: The current status of the most recent investigation is Ongoing.

Most Recent Stakeholder Advisory: The most recent stakeholder advisory issued was Trust Wallet team and Binance (former CEO) advised users to upgrade and offered compensation., .

Most Recent Customer Advisory: The most recent customer advisory issued were an Users advised to disable the vulnerable extension, withdraw funds via desktop/mobile and and avoid entering private keys in the extension.

Most Recent Entry Point: The most recent entry point used by an initial access broker were an Malicious browser extension update, Fake Google Play Store website (*cupomgratisfoodshop*), Phishing, Malicious Downloads, Compromised Websites and Infostealing Malware.

Most Significant Root Cause: The most significant root cause identified in post-incident analysis was Attackers uploaded a vulnerable version of the wallet to the app store under Trust Wallet's official brand., Unsecured database, infostealing malware, Infostealing malware, unsecured database, lack of authentication for sensitive data, Exploitation of accessibility permissions, fake overlays, and social engineering to trick users into granting permissions..

Most Significant Corrective Action: The most significant corrective action taken based on post-incident analysis was Release of patched version (v2.69) and user advisories., Database taken offline, further investigation needed, Enhanced user education on app permissions, stricter app store vetting, and improved detection of fake overlays..