Binance hacked: How was $2.5 billion in Ethereum siphoned away?

We checked every transaction on-chain: at 04:20:59, an authorization transaction installed a backdoor on Binance’s hot wallet #14. Just over three minutes later, another transaction transferred 167,000 ETH plus 63 tokens, worth about $2.52 billion at Binance’s prices at the time. The backdoor remained open for nearly four hours and was called 12 times. The receiving address was frozen starting at 05:01.

Binance’s latest update: It has begun replenishing the funds and has prepared over $6.34 billion in company funds.

Who signed off, why risk controls may not have stopped it, and how Binance is covering the losses—explained in the video.

What do you think?
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