Binance and Kraken Stop Social Engineering Hacks, Preempting Coinbase-Style Breach

Crypto exchanges Binance and Kraken have successfully thwarted sophisticated social engineering attacks aimed at compromising their internal systems. Similar to the recent breach at Coinbase, these attempts were designed to exploit human error, but both platforms reacted swiftly and prevented data leakage or financial losses. The exchanges’ rapid response actions, including internal alerts and audits, highlight their robust security protocols. Binance’s immediate action included process audits and instant employee alerts. Kraken took a similar approach, shutting down access to affected areas immediately after identifying the phishing attempt.