The biggest data breach happened in China, claims Binance
- Teresa Bach
- July 4, 2022
- 0 Comments
More than one billion people’s personal information has been sold on the dark web, according to Binance CEO Changpeng “CZ” Zhao. Details such as names, national identities, addresses, police and medical information from an Asian country have been exposed.
According to CZ, Binance has enhanced its security checks in order to safeguard users who may have been harmed by the attack.
Our threat intelligence detected 1 billion resident records for sell in the dark web, including name, address, national id, mobile, police and medical records from one asian country. Likely due to a bug in an Elastic Search deployment by a gov agency. This has impact on …
— CZ 🔶 Binance (@cz_binance) July 3, 2022
China’s Massive Data Breach
In an online post, ChinaDan, an anonymous user of an internet forum, stated that the Shanghai National Police database had been hacked. A hacker claimed to have 23 terabytes of data on a billion Chinese individuals, according to Binance CEO Changpeng Zhao. This is China’s largest-ever data breach, because of the sheer volume of information exposed.
The hacker is demanding 10 bitcoins, which are presently worth more than $191,000 USD. As far as many are concerned, the asking price is much below its actual value. Since authorities in China have not commented on this topic, the hacker has provided tidbits of information in order to win trust.
A total of 750,000 files from the database were leaked by the hacker over three separate datasets. Both sets look to be police call records, but it’s not clear which is which. The third dataset, on the other hand, includes data such as street addresses, height, and gender.
Binance reaffirms the validity of the threat
It was reported that Binance’s threat intelligence had spotted the sale on the dark web, according to CZ, the CEO of Binance. Furthermore, he believes that the breach was caused by a fault in a government agency’s elastic search.
Binance was the first cryptocurrency business to join the National Cyber-Forensics and Training Alliance earlier this year. It is claimed that the NCFTA was able to stop a loss of nearly $2 billion dollars. The takedown of FancyCat, a criminal organization responsible for laundering over $500 million in ransomware, was made possible in part because of Binance’s involvement in the operation.
The CEO of Binance has said that the company has improved its security checks to safeguard any users who may have been harmed by the incident.