Potential security threat prompts Binance to revoke SignalPlus API keys

A potential security threat prompts Binance to revoke API keys connected to institutional-grade platform SignalPlus.
Users of SignalPlus are advised to access Binance directly to check their positions.
Other crypto exchanges should revoke API keys connected to SignalPlus, Binance co-founder Changpeng Zhao has urged.

Binance has revoked API keys connected to SignalPlus. Announcing the decision on Thursday, the largest cryptocurrency exchange described it as a precaution against a potential security threat. The Application Programming Interface (API) keys were linked to SignalPlus, a third-party technology firm serving institutions.

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Binance systems unaffected by potential threat

Positions and open orders should be checked by logging directly into Binance accounts, the exchange told SignalPlus users. It also advised them to enable wallet whitelisting and not to relink any API keys until SignalPlus confirms that the potential security issue has been fully resolved. Binance assured customers that user funds are safe and its systems remain unaffected.

For third-party platforms integrated with Binance, the exchange requested a review of security controls and monitoring for unusual activity. Any concerns detected should be reported to Binance immediately.

A precautionary revocation of SignalPlus API keys was also carried out by Deribit. The exchange said it had found no evidence of compromised systems or data. Nevertheless, it advised users to check positions and open orders, and to wait for confirmation from SignalPlus that the potential security threat had been neutralised.

Other exchanges were subsequently urged to revoke API keys connected to SignalPlus by Binance co-founder Changpeng Zhao, widely known as CZ.

CZ offered this advice: “It is generally recommended that you do not store your API keys with any 3rd party platform,”

Roughly $6.3 billion was impacted by a hack on Binance's platform last week, providing the backdrop to its proactive revocation of SignalPlus API keys. TraderTraitor, a hacker group linked to North Korea, was largely blamed for the breach. Binance absorbed all losses, a step viewed as part of its efforts to build trust. Earlier this week, reports indicated that panic-driven outflows following the resumption of withdrawals had eased. Binance reported net inflows.

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