CoinDesk
Binance revoked all API keys linked to SignalPlus after the digital asset options platform reported a potential security issue. The exchange said its own systems were unaffected and customer funds remained safe. It urged SignalPlus users to check their positions and open orders directly on Binance.
Why it matters
API keys allow external applications to connect to exchange accounts and place trades without users logging in each time. Compromised keys can enable unauthorized trades even when withdrawals are disabled, making third-party security relevant to traders across multiple platforms.
Binance recommended waiting until SignalPlus confirms the issue has been resolved before reconnecting keys. It also recommended IP whitelisting, which restricts API access to approved internet addresses.
Market impact
The revocation cuts off SignalPlus trading connections to Binance accounts as a precaution. Users with open positions or orders can review them directly on the exchange while the third-party issue is addressed.
Binance co-founder Changpeng Zhao also urged users to revoke SignalPlus keys on other exchanges, saying Deribit had reported the issue. He advised traders against storing API keys with third-party platforms.
Frequently asked questions
-
What should SignalPlus users check on Binance?
Binance urged SignalPlus users to review their positions and open orders directly on the exchange.
-
When should users reconnect their SignalPlus API keys?
Binance recommended waiting until SignalPlus confirms that the issue has been resolved before reconnecting API keys.
-
Can compromised API keys be abused if withdrawals are disabled?
Yes. Compromised API keys can enable unauthorized trades even when withdrawals are disabled.
-
What did Binance say about its own systems and customer funds?
Binance said its systems were unaffected and customer funds remained safe.
-
What did Changpeng Zhao recommend for SignalPlus keys on other exchanges?
The Binance co-founder urged users to revoke those keys on other exchanges and advised against storing API keys with third-party platforms.
WatcherGuru
Crypto News
Crypto Rank News
WuBlockchain
Lookonchain
CoinTelegraph