According to Binance’s estimate, the losses from the hack are estimated at $6.3 billion USD.
According to preliminary investigation findings, the hacker may have compromised the laptop of a DevOps engineer at Binance, gaining access to the internal system and carrying out unauthorized withdrawals.
Binance said it has found no evidence that the wallet’s private key was stolen. Instead, the hacker exploited the EIP-7702 mechanism on Ethereum to transfer control of the hot wallet to a malicious smart contract, then moved the assets out.
The total value of affected assets is estimated at around $6.3 billion USD, of which approximately $3 billion has been frozen.
Binance has pledged to use fund #SAFU and company funds to fully compensate for the losses, while temporarily suspending deposits and withdrawals to conduct security checks.
The investigation is ongoing, and Binance will release a detailed technical report once all the information has been fully verified.
#BinancePick
According to preliminary investigation findings, the hacker may have compromised the laptop of a DevOps engineer at Binance, gaining access to the internal system and carrying out unauthorized withdrawals.
Binance said it has found no evidence that the wallet’s private key was stolen. Instead, the hacker exploited the EIP-7702 mechanism on Ethereum to transfer control of the hot wallet to a malicious smart contract, then moved the assets out.
The total value of affected assets is estimated at around $6.3 billion USD, of which approximately $3 billion has been frozen.
Binance has pledged to use fund #SAFU and company funds to fully compensate for the losses, while temporarily suspending deposits and withdrawals to conduct security checks.
The investigation is ongoing, and Binance will release a detailed technical report once all the information has been fully verified.
#BinancePick