I reviewed reports from TRM, CoinDesk and others, as well as posts from those involved, and summarized a few key details of this Binance wallet hack:
Attack method: An operations computer was compromised, and the hacker obtained 50 pre-signed transfer authorizations. The private key was not lost.
Scale of losses: About $6.3 billion was transferred out in 20 minutes, including 18,270 bitcoins and more than 200,000 ether.
Where the funds went: Issuers helped freeze about $3 billion, but roughly $2.4 billion in public-chain tokens remains in the hacker’s hands and cannot be frozen.
Clash of the giants: Elon Musk joked about it in a post, CZ showed more than $1 billion worth of SpaceX shares, and He Yi said this year’s revenue could cover the losses.
Compensation pledge: Binance has set aside $6.34 billion of its own funds to cover the losses and promised that users would not bear a penny of them.
Withdrawal status: Withdrawals are currently suspended, while deposits are working normally. Refer to Binance’s official announcements for updates on when withdrawals will resume.
These facts were compiled from Binance’s official announcements, TRM Labs’ analysis and reports from multiple foreign media outlets. For updates on the resumption of withdrawals and proof of reserves, refer to official channels.
Attack method: An operations computer was compromised, and the hacker obtained 50 pre-signed transfer authorizations. The private key was not lost.
Scale of losses: About $6.3 billion was transferred out in 20 minutes, including 18,270 bitcoins and more than 200,000 ether.
Where the funds went: Issuers helped freeze about $3 billion, but roughly $2.4 billion in public-chain tokens remains in the hacker’s hands and cannot be frozen.
Clash of the giants: Elon Musk joked about it in a post, CZ showed more than $1 billion worth of SpaceX shares, and He Yi said this year’s revenue could cover the losses.
Compensation pledge: Binance has set aside $6.34 billion of its own funds to cover the losses and promised that users would not bear a penny of them.
Withdrawal status: Withdrawals are currently suspended, while deposits are working normally. Refer to Binance’s official announcements for updates on when withdrawals will resume.
These facts were compiled from Binance’s official announcements, TRM Labs’ analysis and reports from multiple foreign media outlets. For updates on the resumption of withdrawals and proof of reserves, refer to official channels.