Security Dispute: Binance Co-founder Denies Responsibility for $1M Trading Loss Amid Alleged Platform Breach

Yi He, the co-founder of Binance, refutes allegations that a security breach on the platform resulted in a $1 million loss for a single user. According to He, the user's account was compromised due to a hack on their personal computer, leading to the unauthorised sale of their coins and subsequent trading losses. The incident was purportedly initiated through the Google Chrome extension Aggr, which stored login information. The affected user, Nakamao, claimed that the hacker manipulated their account using web cookies, executing leveraged trades resulting in substantial losses. Binance's customer service responded, stating that the breach was due to a plugin installed on the user's device, and while they promptly froze the account upon notification, they cannot compensate for incidents unrelated to the platform's security. He warns users against relying on such plugins for convenience, emphasising Binance's inability to compensate for compromised login devices. Additionally, He, a former Chinese TV host, holds a prominent position as one of the few women leading major crypto exchanges, alongside Gracy Chen of Bitget.