Warning From Binance CEO CZ: “You Must Do This!”

world’s largest cryptocurrency Changpeng Zhao (CZ), CEO of the exchange Binance, warned in his statement about the LastPass password manager, which was recently attacked by hackers and stole user data.

Binance CEO Changpeng Zhao Warns That A Password Manager He Recommends Has Been Hacked

CZ previously recommended the password manager in question to users in a blog post. That’s why the CEO, who wanted to clarify the situation, posted a message on Twitter:

“LastPass recently suffered a security breach. I had previously recommended this password manager in my blog post. They claim it has no effect on client passwords as it is encrypted on the client side, but best make sure you enable 2FA.”

CZ recommended that users using this password manager enable the two-factor authentication security measure.

LastPas a breach recently. I recommended this password manager in my blog article before. They claim no impact to customer passwords, as it should be client side encrypted, but best to make sure you have 2FA enabled.https://t.co/iqPUla6KMi

— CZ 🔶 Binance (@cz_binance) December 23, 2022

Binance CEO then shared a new development about the LastPass attack with users:

“LastPass has released an update. The hacker has accessed all user information, including email address and unencrypted website URLs. If you reused the same passwords as the master password or if you have a weak master password, it is possible that the hacker obtained all the credentials.”

LastPass CEO Karim Toubba announced on Wednesday that the company has detected “abnormal activity” in a third-party cloud storage service, but customers’ passwords remain securely encrypted.

“We immediately launched an investigation, agreed with a leading security firm, Mandiant, and alerted the security forces,” Toubba said in a statement.

*Not investment advice.