An unknown hacker has made a proposition to sell the personally identifiable information of over one billion Chinese citizens in exchange for ten Bitcoin (BTC), which is roughly equivalent to $200,000 USD at the current exchange rate.
The information that is obtained includes the names, birthplaces, houses, telephone numbers, national identification numbers, criminal records, and other particulars of private persons dwelling inside the boundaries of the country.
It is believed that the hacker obtained access to the database of the Chinese police department in Shanghai, grabbed more than 26 gigabytes worth of personal information from the database, and then deleted the database.
Because of the enormous quantity of data that was at stake, many of them were skeptical about the validity of the hacker’s claim as soon as they heard it for the first time.
On the other side, the hacker revealed some of the information in order to demonstrate how extensive the assault was.
The Chief Executive Officer of Binance, Changpeng Zhao, has acknowledged the claims that have been made against the business.
He made the revelation earlier on this day through Twitter that the threat intelligence obtained by his organization had found someone who was proposing to sell the personal information of one billion people of a nation in Asia. The country in question is located in Asia.
The compromise in security “was presumably brought about by a weakness in an ElasticSearch deployment by a government agency,” according to the reporting of CZ.
On the other hand, he has said without equivocation that the vulnerability was brought about as a consequence of “the government engineer writing a tech blog on CSDN and mistakenly including the credentials.”
Binance has reportedly strengthened its security protocols in order to confirm the accounts of users whose data may have been compromised as a result of the attack, as stated by Zhao.
In addition to this, he strongly suggested that the same policy be implemented across all of the other platforms.