SlowMist founder: Binance hack was an APT attack; engineers should not be solely blamed
Yu Xian, founder of blockchain security firm SlowMist, wrote on X that after reading Binance’s account of the theft, many people believed the engineers involved had made a basic mistake and had excessive privileges. Yu said such incidents are advanced persistent threat (APT) attacks involving multiple stages, including exploiting human vulnerabilities, intelligence gathering, evading antivirus detection with malicious code, exploiting trust chains, targeted lateral poisoning, infiltrating cloud environments, bypassing risk controls, and exploiting 0-day vulnerabilities. The incident should not be viewed solely through the initial social engineering stage.
Yu Xian, founder of blockchain security firm SlowMist, wrote on X that after reading Binance’s account of the theft, many people believed the engineers involved had made a basic mistake and had excessive privileges. Yu said such incidents are advanced persistent threat (APT) attacks involving multiple stages, including exploiting human vulnerabilities, intelligence gathering, evading antivirus detection with malicious code, exploiting trust chains, targeted lateral poisoning, infiltrating cloud environments, bypassing risk controls, and exploiting 0-day vulnerabilities. The incident should not be viewed solely through the initial social engineering stage.