Binance and Deribit Cut API Access After Fake Teams Attack
Hackers compromised a SignalPlus engineer's machine via a fake Microsoft Teams invite, prompting Binance and Deribit to revoke API keys.
Binance and Deribit moved swiftly to revoke API keys belonging to SignalPlus after attackers infiltrated the crypto trading platform's systems through a fraudulent Microsoft Teams invitation, the company disclosed. The social-engineering breach allowed hackers to gain access to an engineer's computer, creating a foothold that exposed connected exchange accounts.
SignalPlus confirmed the intrusion resulted in financial losses of less than $82,000, a relatively contained figure given the nature of the attack. The platform pledged to reimburse affected users in full, signaling an effort to maintain trust with its client base following the incident.
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The attack highlights a growing trend of threat actors targeting crypto industry employees through fake collaboration-tool invites, using trusted interfaces like Microsoft Teams to bypass conventional security awareness. Once inside a victim's machine, attackers can harvest API credentials that grant direct trading access to major exchanges without triggering standard login alerts.
The rapid response by Binance and Deribit to cut off compromised API keys underscores how crypto exchanges are increasingly treating third-party platform breaches as systemic risks requiring immediate intervention. The incident serves as a sharp reminder for firms operating in digital asset markets to scrutinize unsolicited meeting invitations and enforce strict endpoint security protocols.
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