• Binance's latest hack is said to have originated in a phone hack (via Shutterstock)

    In $40 million Bitcoin heist, thieves used Binance’s security system to steal

    The exchange was hacked after its two-factor authentication system designed to strengthen passwords were compromised

    Two-factor authentication is supposed to be the gold standard in privacy and protection of Internet data, but in Tuesday’s $40 million dollar heist from the top cryptocurrency exchange, it seems to have been the method thieves used to break into user accounts.