AI · CoinDesk
Binance uncovers wider breach in $6.3 billion exploit, targets Sunday withdrawal restart
Compiled by KHAO Editorial — aggregated from 2 sources. See llms.txt for citation guidance.
✓ KHAO Verified
Binance’s investigation into the record $6.3 billion hack has uncovered additional security breaches beyond an initially suspected compromised employee laptop, co-CEO Richard Teng said Friday, adding details of the attack and setting a Sunday target to restore withdrawals.
Key facts
- Binance has reserved more than $6.34 billion, including $5 billion already held in the affected cryptocurrencies, he said
- Binance’s investigation into the record $6.3 billion hack has uncovered additional security breaches beyond an initially suspected compromised employee laptop, co-CEO Richard Teng said Friday, adding
- Teng also reiterated Binance had committed to cover all $6.3 billion in losses using company funds
- CoinDesk’s earlier reporting detailed the account-delegation method, which examined how the attacker obtained wallet permissions and used malicious code to drain about $2.5 billion in minutes
Summary
In a video statement on X, Teng said the attackers used a self-destruct mechanism to erase evidence and exploited Ethereum’s EIP-7702 account-delegation feature to take control of a hot wallet without going through Binance’s normal approval procedures. “This was a complex attack,” Teng said, adding that investigators had found additional points of breach but had yet to determine the full sequence of events. CoinDesk’s earlier reporting detailed the account-delegation method, which examined how the attacker obtained wallet permissions and used malicious code to drain about $2.5 billion in minutes. Teng also reiterated Binance had committed to cover all $6.3 billion in losses using company funds.