Binance’s $6.3 B hack exposed a DevOps laptop breach and rattled the entire crypto market.
On October 29 the exchange reported unauthorized outflows on Ethereum, Bitcoin, Tron, Arbitrum, Optimism and Avalanche. Preliminary findings point to a compromised DevOps engineer’s laptop and the use of EIP‑7702 authorizations, with one signed authorization that let malicious code run against the affected wallet.
Tether froze more than $1.567 B USDT, Circle froze over $800 M USDC and Binance’s frozen total approached $3 B. Co‑CEO Yi He said the SAFU fund and company resources will absorb the losses while deposits and withdrawals were temporarily suspended.
Bitcoin slid to near $76,300 wiping out roughly $478.9 M in positions; Ethereum saw $363.5 M liquidated. DeFi platforms responded – Aave froze 175 markets on V3 and 117 on V4, and Kamino paused SOL and BTC borrowing.
ZachXBT traced the stolen funds from Binance and Bitget to the same THORChain‑linked wallet, suggesting a common attacker.
What safeguards should exchanges prioritize to prevent a similar DevOps‑level breach?
#Crypto #DeFi #Security #Binance
On October 29 the exchange reported unauthorized outflows on Ethereum, Bitcoin, Tron, Arbitrum, Optimism and Avalanche. Preliminary findings point to a compromised DevOps engineer’s laptop and the use of EIP‑7702 authorizations, with one signed authorization that let malicious code run against the affected wallet.
Tether froze more than $1.567 B USDT, Circle froze over $800 M USDC and Binance’s frozen total approached $3 B. Co‑CEO Yi He said the SAFU fund and company resources will absorb the losses while deposits and withdrawals were temporarily suspended.
Bitcoin slid to near $76,300 wiping out roughly $478.9 M in positions; Ethereum saw $363.5 M liquidated. DeFi platforms responded – Aave froze 175 markets on V3 and 117 on V4, and Kamino paused SOL and BTC borrowing.
ZachXBT traced the stolen funds from Binance and Bitget to the same THORChain‑linked wallet, suggesting a common attacker.
What safeguards should exchanges prioritize to prevent a similar DevOps‑level breach?
#Crypto #DeFi #Security #Binance
