Binance Will Not Reactivate Withdrawal Services Until They Pass Rigorous Testing
Binance Co-CEO Richard Teng commented on the platform's hacking incident:
The attacker used a self-destruct mechanism that destroyed the tools and traces of the attack during its execution.
We are currently working to rebuild the withdrawal service. It will not be reactivated until it has successfully passed rigorous security testing.
We are conducting a comprehensive security review across all areas of the company, including endpoints, cloud infrastructure, key management, and digital signing operations.
We will publish a full Proof of Reserves (PoR) report by Monday.
The part affected by this incident was Binance's own hot wallet.
The attacker exploited a known multi-signature protocol called EIP-7702 to obtain authorization for executing on-chain transactions through the hot wallet.
#BinanceWithdrawalScamWarning
#binance
Binance Co-CEO Richard Teng commented on the platform's hacking incident:
The attacker used a self-destruct mechanism that destroyed the tools and traces of the attack during its execution.
We are currently working to rebuild the withdrawal service. It will not be reactivated until it has successfully passed rigorous security testing.
We are conducting a comprehensive security review across all areas of the company, including endpoints, cloud infrastructure, key management, and digital signing operations.
We will publish a full Proof of Reserves (PoR) report by Monday.
The part affected by this incident was Binance's own hot wallet.
The attacker exploited a known multi-signature protocol called EIP-7702 to obtain authorization for executing on-chain transactions through the hot wallet.
#BinanceWithdrawalScamWarning
#binance
