A third party wallet, SAFU wallet has been found to be malicious and many users of the wallet reportedly have lost their funds. Accordingly, Binance took to Twitter to alert the community of the situation and discourage them from using the wallet.

SAFU Wallet is Not “SAFU”

It appears as SAFU wallet is not “SAFU” (a term widely used to mean “Funds Are Safe”) as a users pointed out that the wallet extension is malicious and is stealing users’ data. Binance updated the community with the information on Twitter Friday morning.

DO NOT USE SAFU WALLEThttps://t.co/5h6aKpoy5R https://t.co/oqNGVxW1T3

— Binance DEX (@Binance_DEX) October 11, 2019

The report comes following a Twitter user’s tweet about the wallet hack which stated that the chrome SAFU wallet extension  was malicious and due to it, funds had been stolen from several customers. He also added a screenshot of SAFU wallet user review which clearly stated that mnemonic keys had been hacked and funds stolen.

Wallet hack alert: DO NOT use and report that Wallet extension. It has stolen already lots of funds by injecting malicious code

⁦⁦@cz_binance⁩ you may want to look at this because it specifically called after your fund.

cc ⁦@rambo1stbld⁩ https://t.co/JSgZQ0ieGA

— Ouriel Ohayon (@OurielOhayon) October 11, 2019

Binance Warns the Community

According to an official announcement by Binance chain forum, users of the wallet were advised to uninstall the SAFU wallet, report any losses and share any information that they thought was useful.

Accordingly, some users of the wallet reported losses as feedback to the announcement. A user revealed that his SAFU wallet had received a little amount of BNB, perhaps for fee, followed by a total transfer of all his funds.

A few other forum members also reported such cases while giving details relating to their loss of funds such as the various addresses to which their funds were sent.

Another Server Issue Needs Fixing At Binance

Amid talks and concerns of security issues, Binance CEO, Changpeng Zhao, updated his Twitter handle to also inform the community about an ongoing ” server issue” which he said was affecting all withdrawals.  According to CZ, the issue may take roughly two hours to fix and assured everyone that they knew exactly how to fix it.

We have a server issue affecting ALL withdrawals. May take 1-2 hours (rough estimate) to fix. We are aware of the exact issue and how to fix it. Still working on a more accurate ETA. Will keep you posted. Apologies for the inconvenience.

Trading is not affected. Funds are #SAFU

— CZ Binance (@cz_binance) October 11, 2019

Summary

Article Name

SAFU Wallet Gets Hacked, Binance Warns Community Members

Description

A third party wallet, SAFU wallet was reported by community members on Friday to have been hacked and many customers, according to report have lost their funds. Accordingly, Binance took to Twitter to alert the community of the situation and discourage them from using the wallet for the time being.

Author

Dare Shonubi

Publisher Name

Coingape

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