Binance Blocks SignalPlus API Keys After Security Alert
Binance is cutting off its API connection with SignalPlus as a precaution and asking traders to check their positions. The move follows broader concerns about exchange security and third-party trading services.
Key Takeaways
- Binance removed all API keys linked to SignalPlus after a reported possible security issue.
- The exchange says its systems were not affected and customer funds remain safe.
- Users should check their positions and open orders and only reconnect API access after SignalPlus confirms the issue has been fixed.
Binance removed all API keys linked to SignalPlus after the third-party trading service reported a possible security issue. The crypto exchange said on Thursday via X that access was shut off as a precaution. Users should therefore check their positions and open orders directly on Binance right away.
API Access Under Pressure
SignalPlus is a platform for crypto options trading and gives users tools and insights to manage accounts across multiple exchanges. These kinds of connections are useful for active traders, but they also increase the risk if a third party runs into a security problem.
Binance stressed that its own systems were not affected and that customer funds remain safe. The company also advised users to enable IP whitelisting, so API access is only possible from approved internet addresses. In addition, Binance called on other connected platforms to check their security controls.
Broader Risk for Traders
API keys give external apps access to exchange accounts without users having to log in again and again. If a key is misused, attackers can carry out unauthorized trades, even if withdrawals are disabled. Binance therefore warned users to reconnect API keys only after SignalPlus confirms that the problem has been resolved.
Why This Matters
The warning comes shortly after Binance dealt with the biggest crypto hack to date in early October, when the company said $6.3 billion (€5.6 billion) in crypto was stolen. Deribit also reported a hot wallet breach earlier this week, showing how quickly security problems at one party can spill over into other connections and trading flows. For European crypto traders, this mainly highlights how important it is to tightly manage external tools and access rights.
Earlier, a hack at a third party also caused a temporary disruption to trading services after user accounts were affected through an external provider.