Hack Alert: SAFU Wallet is Malicious, Binance Warns Community Members

SAFU wallet
SAFU wallet

Hack Alert: SAFU Wallet is Malicious, Binance Warns Community Members

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.

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.

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.

Safu wallet

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.

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SAFU Wallet Gets Hacked, Binance Warns Community Members
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SAFU Wallet Gets Hacked, Binance Warns Community Members
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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.
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Author: Dare Shonubi

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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Dare Shonubi 246 Articles

Staff writer at Coingape. Certified cryptocurrency expert and Blockchain journalist covering crypto market analysis and general Blockchain adoption and development.
You can follow me on Twitter at @ShonubiDare or reach out to me at dare[at]coingape.com

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