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Security Concern Over 2FA & P2P

Binance

Cryptocoins Exchanges / Binance 281 Views

Hi all,

Please help me clear up my security concern over binance fund protection.

Say that the password to your account was stolen or hacked, and someone has now gained access to your account.

Supposedly, 2FA is going to prevent this person from withdrawing funds to an addresss or changing your password. Great.

But what if this person has another binance account and just sells your available funds to that other account through P2P?

As in, he creates a buy ad from his other account and fills the sell order from your stolen accounts. Yes, he can't add a new payment method, but even if he just uses your existing payment method he can mark the transaction as complete from your account and binance will just move the money from your stolen account to his account. If I'm right then this whole 2FA means nothing for protection.

Am I missing something?

submitted by /u/usernumber95
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