Key Insights:
- Binance news: Binance revokes all SignalPlus-linked API keys following a reported security issue.
- Changpeng Zhao urges users to remove SignalPlus API keys from other exchanges.
- Deribit takes similar action as both exchanges advise users to check open orders.
Binance news broke on November 5 after the exchange revoked API keys linked to SignalPlus due to a reported security issue. The exchange stated its systems remain safe and customer funds are unaffected.
Binance Exchange Cuts Ties With SignalPlus
Binance has revoked all API keys connected to SignalPlus after the third-party trading platform reported a possible security issue. The exchange announced the move on November 5. It said the decision was taken as a precaution while the matter is being addressed.
Binance stressed that its own systems were not affected. Customer funds also remain safe, according to the exchange. Users who connected their Binance accounts to SignalPlus have been asked to log in directly to Binance. They should check their open orders and trading positions to see if anything has changed.
Binance Exchange also advised users not to reconnect their API keys yet. They should wait until SignalPlus confirms that the issue has been fully resolved.
Binance further urged users to enable IP whitelisting on their API keys. This allows users to restrict access to approved IP addresses rather than leaving the keys open to connections from other locations.
The exchange also asked other third-party platforms connected to Binance to check their security measures. They should watch for unusual activity and contact Binance if they notice anything wrong.
The announcement did not explain what caused the security concern. SignalPlus has also not provided details of the issue in the information shared so far.
Binance News: Changpeng Zhao Warns Users to Revoke Other API Keys
Changpeng Zhao, Binance founder, also issued a warning to users who connect SignalPlus to other crypto exchanges. In his post, Zhao said users should revoke their SignalPlus API keys on any other exchange where they have used the platform.
His warning means the issue is not limited to Binance accounts. Traders who connected SignalPlus to other exchanges should also check those accounts and remove the linked keys. Zhao also advised users not to store their API keys with third-party platforms.
API keys allow outside services to connect to exchange accounts. Depending on the permissions granted, they can let a platform access trading features and take certain actions on the account holder’s behalf.
This is why users need to know which services have access to their accounts. A problem with an outside platform can raise concerns even when the exchange itself has not been affected.
The warning did not confirm any losses or unauthorized trades involving Binance users. It was a call for users to take precautions while the issue remains unresolved.
Deribit Also Revokes SignalPlus API Keys
Besides the Binance news, Deribit has also revoked API keys linked to SignalPlus following the reported security concern. Media firms also reported that Deribit took this step alongside Binance. The trading platform said it had found no signs of an impact on its systems or data.
Both exchanges have asked affected users to review their open orders and positions. They also advised users to wait for SignalPlus to confirm that the issue has been resolved before reconnecting their accounts.
So far, the reports have not established what happened at SignalPlus or whether any customer accounts were accessed without permission. There is also no confirmed information about stolen funds or losses linked to the incident.
For now, Binance says its systems remain unaffected and that customer funds are safe. Users who connected SignalPlus to Binance or Deribit should keep their API keys revoked until the platform provides an update.
The incident is a reminder for traders to check their connected services and remove API keys they no longer use. This Binance news confirms the importance of limiting key permissions and enabling IP whitelisting where available.
