Binance Hack Investigation | Update 03
New findings in the $6.3 billion Binance hack:
1. Additional breach points: Investigators have reportedly identified possible vulnerabilities beyond the initially suspected compromised engineer's laptop.
2. $700 million moved quickly: Blockchain analysis indicates that approximately $700 million USDT left the main attacker wallet within nine minutes of the initial Ethereum drain, before token freezes took effect.
3. Repeated theft: The attacker reportedly drained another 200 million USDT deposited into an already-compromised Binance wallet.
4. Reserve concerns: An analysis suggests Binance's ETH backing ratio could temporarily fall to around 94% before replenishment. Binance has promised to cover losses.
We are continuing to trace attacker wallets, fund movements and recoveries.
Evidence:
https://bitquery.io/investigations/binance-hack
https://etherscan.io/address/0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c
New findings in the $6.3 billion Binance hack:
1. Additional breach points: Investigators have reportedly identified possible vulnerabilities beyond the initially suspected compromised engineer's laptop.
2. $700 million moved quickly: Blockchain analysis indicates that approximately $700 million USDT left the main attacker wallet within nine minutes of the initial Ethereum drain, before token freezes took effect.
3. Repeated theft: The attacker reportedly drained another 200 million USDT deposited into an already-compromised Binance wallet.
4. Reserve concerns: An analysis suggests Binance's ETH backing ratio could temporarily fall to around 94% before replenishment. Binance has promised to cover losses.
We are continuing to trace attacker wallets, fund movements and recoveries.
Evidence:
https://bitquery.io/investigations/binance-hack
https://etherscan.io/address/0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c