A draining incident linked to Binance’s $6 billion loss showed how an upgrade on network $ETH became an unexpected tool in an attacker’s hands.
The upgrade, launched in 2025 to improve regular wallets and make them smarter, was used alongside 50 signatures issued by Binance’s own wallet. This combination enabled the attacker to withdraw part of the loss.
Ironically, the upgrade was originally intended to enhance the features available to users—not open the door to a drain. But the incident highlights the importance of reviewing the permissions and signatures associated with smart wallets before relying on them to protect assets.
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$ETH
Others have already followed. Visit my profile and stay with those who read before the news spreads.
The upgrade, launched in 2025 to improve regular wallets and make them smarter, was used alongside 50 signatures issued by Binance’s own wallet. This combination enabled the attacker to withdraw part of the loss.
Ironically, the upgrade was originally intended to enhance the features available to users—not open the door to a drain. But the incident highlights the importance of reviewing the permissions and signatures associated with smart wallets before relying on them to protect assets.
Tap $ETH to trade
$ETH
Others have already followed. Visit my profile and stay with those who read before the news spreads.
