Latest update on the Binance hot wallet hack (as of 08:35)
1. Binance has officially pledged to cover all losses. All deposits and withdrawals are suspended while it conducts security checks, freezes funds, and cooperates with law enforcement. It will publish a full post-mortem after the investigation concludes. The exact amount of losses has not yet been disclosed.
2. The authorization for Binance 14, the compromised hot wallet, was revoked at 08:10. However, the 2,961 ETH that had been stuck was transferred by the hacker before the revocation.
3. Freezing progress: Binance says it has confirmed that $2.54 billion has been frozen. The Arbitrum Security Council has frozen an additional approximately $30.5 million.
4. After deducting the frozen stablecoins, net losses from the theft are approximately $3.43 billion. The hacker has not moved the 18,270 BTC in their possession. They continue to swap altcoins for ETH and now hold approximately 467,000 ETH.
5. ZachXBT says it is “very likely Lazarus,” but there is no evidence yet.
Market prices (24 hours): BNB at 685, down approximately 9.8%; BTC at 77,177, down approximately 4.9%; ETH at 2,207, down approximately 6.3%. The hacker is still selling altcoins for ETH. Watch for selling pressure on ENA, PEPE, and others.
1. Binance has officially pledged to cover all losses. All deposits and withdrawals are suspended while it conducts security checks, freezes funds, and cooperates with law enforcement. It will publish a full post-mortem after the investigation concludes. The exact amount of losses has not yet been disclosed.
2. The authorization for Binance 14, the compromised hot wallet, was revoked at 08:10. However, the 2,961 ETH that had been stuck was transferred by the hacker before the revocation.
3. Freezing progress: Binance says it has confirmed that $2.54 billion has been frozen. The Arbitrum Security Council has frozen an additional approximately $30.5 million.
4. After deducting the frozen stablecoins, net losses from the theft are approximately $3.43 billion. The hacker has not moved the 18,270 BTC in their possession. They continue to swap altcoins for ETH and now hold approximately 467,000 ETH.
5. ZachXBT says it is “very likely Lazarus,” but there is no evidence yet.
Market prices (24 hours): BNB at 685, down approximately 9.8%; BTC at 77,177, down approximately 4.9%; ETH at 2,207, down approximately 6.3%. The hacker is still selling altcoins for ETH. Watch for selling pressure on ENA, PEPE, and others.