$15, three and a half minutes, and $2.5 billion gone.
Bloomberg’s breakdown of the Binance hack: what really sent a chill down my spine was this—hackers paid only about $15 in fees to set up a “proxy authorization” for Binance’s hot wallet on Ethereum. Three and a half minutes later, a single transaction siphoned off about $2.5 billion, or 40% of the total stolen. They used EIP-7702, a new feature that was meant to make wallets easier to use.
There’s one takeaway for everyday users: the authorizations and signatures you’ve approved in your wallet are the same kind of thing. Don’t sign hastily when an unfamiliar page asks you to; regularly visit your authorization settings and revoke anything you no longer use.
When was the last time you reviewed your wallet authorizations? I’m going to check mine now.
Just my personal observations; not investment advice.
$BNB $ETH
#朝鲜黑客 #Web3Security
Bloomberg’s breakdown of the Binance hack: what really sent a chill down my spine was this—hackers paid only about $15 in fees to set up a “proxy authorization” for Binance’s hot wallet on Ethereum. Three and a half minutes later, a single transaction siphoned off about $2.5 billion, or 40% of the total stolen. They used EIP-7702, a new feature that was meant to make wallets easier to use.
There’s one takeaway for everyday users: the authorizations and signatures you’ve approved in your wallet are the same kind of thing. Don’t sign hastily when an unfamiliar page asks you to; regularly visit your authorization settings and revoke anything you no longer use.
When was the last time you reviewed your wallet authorizations? I’m going to check mine now.
Just my personal observations; not investment advice.
$BNB $ETH
#朝鲜黑客 #Web3Security
