A Binance risk control account was hacked, and trader Vida precisely intercepted one million dollars.

A on-chain security incident occurred in early January 2025, attracting market attention. According to on-chain analyst Ai Yi monitoring, a Binance risk control account was suspected to have been hacked. Although Binance’s risk control mechanism effectively prevented the hacker from making direct withdrawals, this did not stop the attacker from taking further actions, but instead prompted them to adopt more covert fund transfer strategies.

Hacker Switches to Wash Trading, Targets Small-Cap Meme Coins

Facing withdrawal restrictions on the risk control account, the hacker changed tactics and decided to transfer funds through “wash trading.” They carefully selected low-liquidity, small-market-cap meme coin BROCCOLI714 as their target. The hacker placed large buy orders in an attempt to quickly push up the spot price and thereby facilitate fund transfer. This operation method seems simple but tests the market’s response speed.

Abnormal Price Signals Emerge, Trader Vida Reacts Quickly

At a critical moment, trader Vida received an abnormal price alert. He keenly perceived that this was not normal whale behavior but suspected illegal operations by the hacker. After the contract circuit breaker ended, Vida quickly made a judgment, precisely opening a long position. In subsequent trades, he accurately intercepted the hacker’s chip movements and successfully made a profit of about $1 million. This trade demonstrated the sharp insight of professional traders into abnormal market conditions.

Risk Control Mechanism Intervenes, Hacker Ultimately Retreats

As the abnormality was exposed, Binance’s risk control mechanism intervened immediately. The hacker found themselves unable to continue placing orders and attempted to switch to operating SOL (Solana), but ultimately failed. Facing layered defenses, the hacker finally chose to cancel orders and give up, and the stolen fund transfer plan was ultimately thwarted. This incident once again reminds the market that it is important to be vigilant about potential risks in risk control accounts, and to recognize the crucial role of professional traders and platform defense mechanisms in responding to abnormal situations.