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Binance Downplays the Significance of GitHub Code Leak, Calling the Risk “Negligible”

Binance officially responds to the GitHub code leak

Crypto exchange Binance recently addressed concerns over a reported code leak on GitHub, asserting that the exposed information poses only a minor threat. According to a January 31st report by 404 Media, a cache containing Binance's internal passwords, code, and security procedures, including multifactor authentication protocols, was found on GitHub. While initially perceived as a significant security concern, Binance has since downplayed the risk.

A spokesperson for Binance clarified, stating: 

"The individual shared very outdated information on GitHub." 

They emphasized that the security team's analysis confirmed this data does not mirror their current operational setup.  The spokesperson added, assuring that the outdated nature of the data renders it ineffective for potential misuse:

"The information posed negligible risk to the security of our users, their assets, or our platform,"

In response to these developments, Binance took decisive action by issuing a copyright takedown request to GitHub on January 24th, aimed at removing the sensitive content.

Contrasting claims and Binance's legal steps

The situation surrounding Binance's alleged code leak on GitHub takes a complex turn when considering the exchange's initial reaction. In their takedown request to GitHub, Binance described the leaked information as causing "severe financial harm" and posing a "significant risk" to the exchange. This statement contrasts with their later public stance, labeling the risk as "negligible."

Binance's dual narrative raises questions about the actual level of risk posed by the leaked data. Despite the exchange's reassurances, their GitHub request repeatedly emphasizes the severity of the leak. The request stated, highlighting the gravity of the situation as perceived by Binance at the time:

"Our client’s internal code... poses a significant risk to Binance and causes user confusion/harm,"

In a bid to safeguard its interests, Binance has not only taken action against the unauthorized disclosure on GitHub but is also pursuing legal measures. The exchange is keen on protecting both its past and present intellectual property, aiming to prevent any confusion or unwarranted fears among users about the security of their data.