#CryptoRegulation

The major cryptocurrency platforms, Binance and Kraken, successfully repelled the same type of social engineering attacks that Coinbase Global Inc recently faced, according to information conveyed by Bloomberg from sources who preferred to remain anonymous.

Both digital platforms were able to fend off the attacks successfully, ensuring that no customer data was lost, according to the sources. Representatives from Binance and Kraken declined to comment on the cybersecurity issue.

Cybercriminals have consistently targeted cryptocurrency companies and market participants since the industry emerged over a decade ago. The number of attacks often increases with the rising value of digital currencies, as has been the case recently. Many platforms, including Paybit, Bitfinex, and FTX, have lost billions of dollars to hackers over the years.

Binance and Kraken faced similar attacks to those encountered by Coinbase. However, their internal policies and technologies successfully thwarted the attacks, the sources added. Reports indicated that Binance faced scammers who attempted to bribe its customer service agents, and an ID was provided on the Telegram app to contact the offender, according to one source.$BNB