✅BINANCE CEO CONFIRMS ATTACKERS USED EIP-7702 TO BYPASS HOT WALLET SECURITY CONTROLS
Binance CEO Richard Teng says attackers exploited Ethereum’s EIP-7702 delegation mechanism to gain execution authority over a Binance hot wallet, bypassing the exchange’s normal transaction approval controls.
Teng confirmed that the attack involved multiple individuals who deployed self-destruct mechanisms to erase tools and traces during the breach.
Binance expects to restore withdrawals within 40 hours, before Sunday, and plans to publish a full Proof of Reserves report by Monday.
The exchange is conducting a company-wide security review covering endpoints, cloud infrastructure, private key management, and transaction signing.
#RichardTeng #Binance #ETH #EIP7702 #HackerAlert $BNB $ETH $BNCB
@Binance LATAM Official @Yi He @CZ @Richard Teng @Binance News
Binance CEO Richard Teng says attackers exploited Ethereum’s EIP-7702 delegation mechanism to gain execution authority over a Binance hot wallet, bypassing the exchange’s normal transaction approval controls.
Teng confirmed that the attack involved multiple individuals who deployed self-destruct mechanisms to erase tools and traces during the breach.
Binance expects to restore withdrawals within 40 hours, before Sunday, and plans to publish a full Proof of Reserves report by Monday.
The exchange is conducting a company-wide security review covering endpoints, cloud infrastructure, private key management, and transaction signing.
#RichardTeng #Binance #ETH #EIP7702 #HackerAlert $BNB $ETH $BNCB
@Binance LATAM Official @Yi He @CZ @Richard Teng @Binance News
