🚨 Binance confirmed a large-scale cyberattack on its infrastructure — preliminary losses are estimated at $6.3 billion.
According to initial investigation data, the attackers may have compromised a DevOps engineer’s laptop and used it to gain access to the transaction-signing system. The exchange has not yet found any evidence that private keys were leaked.
On Ethereum, the hackers used the EIP-7702 mechanism, preparing 50 signed authorizations. In one of the operations, a malicious contract gained control of a hot wallet and withdrew 167,464 ETH, 1.615 billion USDT, and dozens of other tokens.
TRM Labs analysts also detected withdrawals from Binance wallets on other blockchains. In their assessment, the attack affected ten networks.
What happens next? Binance said users’ funds are safe and that all losses will be covered by the SAFU reserve fund and the company’s own funds. Around $3 billion in assets has already been frozen.
The main question now is: how did the attackers manage to gain access to the transaction-signing infrastructure across several networks?
This is yet another reminder that even the largest crypto exchanges are not immune to large-scale attacks.
According to initial investigation data, the attackers may have compromised a DevOps engineer’s laptop and used it to gain access to the transaction-signing system. The exchange has not yet found any evidence that private keys were leaked.
On Ethereum, the hackers used the EIP-7702 mechanism, preparing 50 signed authorizations. In one of the operations, a malicious contract gained control of a hot wallet and withdrew 167,464 ETH, 1.615 billion USDT, and dozens of other tokens.
TRM Labs analysts also detected withdrawals from Binance wallets on other blockchains. In their assessment, the attack affected ten networks.
What happens next? Binance said users’ funds are safe and that all losses will be covered by the SAFU reserve fund and the company’s own funds. Around $3 billion in assets has already been frozen.
The main question now is: how did the attackers manage to gain access to the transaction-signing infrastructure across several networks?
This is yet another reminder that even the largest crypto exchanges are not immune to large-scale attacks.