Binance has noted regret for the negative experience of Twitter user @CryptoNakamao, who lost $1 million due to a web cookie hijack from a malicious plugin. The platform is appreciative of his attempt at rectifying previous misunderstandings about them.
After thorough analysis and review by Binance's security and risk control team, they have acknowledged the need for continued improvement and optimization of risk control mechanisms to prevent such cases in future. This incident has spurred an opportunity for significant advancements in the platform's security measures. This includes the addition of big data alarms, manual double confirmations for sudden price fluctuations, and potentially increasing the verification frequency for plugin operations and cookie authorizations.
In acknowledgement of his effort in promoting security awareness within the crypto community, Binance will apply for a reward for @CryptoNakamao as part of their "Bug Bounty Program." The program is an initiative aimed at encouraging the detection and reporting of potential platform vulnerabilities.
Ultimately, protecting the security of user assets is a long-term responsibility that Binance claims to maintain. In line with that, the company encourages all users to remain vigilant, use clean web browsers, and refrain from installing any third-party plugins. As a leader in the industry, Binance will continue to invest and proactively protect the security of users' assets.