⚾️Lance Peterman

This was not just the biggest crypto hack. It was the biggest hack. Period. In monetary terms, over $6.3 Billion appears to have been stolen. And it may have all started with a compromised employee laptop. Here's the latest: - On Oct 29, analysts identified billions in suspicious transfers from Binance-linked wallets. - Binance acknowledged the security incident & temporarily suspended deposits & withdrawals. The exchange released its initial findings: - An attacker may have compromised a DevOps engineer's laptop, accessed an internal service container & submitted unauthorized withdrawals. - On Ethereum, the attackers used a mechanism called EIP-7702 to redirect control of a Binance hot wallet to a malicious smart contract. - This allowed the attackers to move funds into wallets they controlled, while other unauthorized transfers occurred across multiple blockchains. - Most of the estimated $6.36B was transferred across 10 blockchains. - Binance says it has found *no evidence* of wallet private keys being leaked, suggesting the attackers may have exploited systems authorized to sign transactions instead. The impact so far: - Chainalysis reports $5.912B stolen, with funds moving across Bitcoin, Ethereum, Tron, XRP Ledger & others. - Tether froze approximately $1.57B in USDT, Circle froze over $800M in USDC. - Ripple also reportedly froze around $200M. Who's behind this? North Korea's Lazarus is the likely suspect. Security experts have flagged the "TraderTraitor" subunit as one the hacker. Binance has pledged to cover all losses through its SAFU emergency fund & company resources, although the final unrecovered amount remains unknown.