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no man goes on the same japan trip twice for he is not the same man and it is not the same japan
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Binance 14 signed fifty authorizations handing itself to a sweeper contract. The signatures are on chain. The read that fits best: a signing machine was compromised, the attacker could not take the keys out and could not pass the transfer policy, whitelists and limits, but could get it to sign one short message that policies written before May 2025 do not recognize. EIP-7702 did not open the door. It walked around the guard.
What 7702 is: a wallet can attach contract code to itself by signing (contract, nonce) with its own private key. Anyone can submit that signature and pay the gas. It only works if the nonce matches the wallet's live nonce at that moment. After that the code moves funds with no signer involved.
What happened, all on chain, Oct 29 UTC:
> 13:51 the attacker delegates two fresh empty wallets to a sweeper and drains them. A dry run.
> 15:59 deploys a second sweeper. 16:20 to 16:47 repeats the drill on a third empty wallet.
> 18:20 receives 1 ETH for gas.
> 20:20:59 one transaction to Binance 14 carrying 50 authorizations signed by Binance 14 itself, nonces 18914775 to 18914824. Whoever got them signed did not know the live nonce of a hot wallet that fires withdrawals every block, so they got fifty in a row and let the chain pick. Gas accounting shows exactly one matched.
> 20:24:23 first sweep: 167K ETH and 63 tokens including 1.6B USDT in one call. 20:41 the delegated wallet used its owner role on a separate smart wallet and moved 780M USDC from there too.
Binance has not said how the signatures were obtained. But the question for every custodian used to be "can this signer move a billion". Now it is "can this signer sign anything that is not a transfer".
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So basically, today PHP got two critical bugs that let anyone run code on your server without even logging in, which is bad, and then the details leaked before the patch was even out, which is worse, and it works on WordPress and MediaWiki and Magento and Joomla and Laravel, and Censys says like 1.5 million servers are running a version with no fix, so the NSA was like "take your system offline," and the FBI was like "take your system offline," and CISA and the UK and CERT-EU were all like "take your system offline," and then the Prime Minister of Japan, the actual Prime Minister, posted at 5:55 in the morning telling 48.8 million people to take their system offline, so everyone took their system offline, like the Dutch cybersecurity agency took its own website offline, and the Dutch parliament went offline, and the Port of Rotterdam went offline, and Finland and France and Denmark started pulling government sites, and Wikipedia went down, and Archive.org went down, and Asana and GOG and Something Awful went down, and the University of Vienna's webmail went down for some reason, and that's just PHP. Because GitLab also dropped a CVSS 10.0, which is the highest score they give out, for a bug that's been there since 2014, so that's every self-hosted GitLab for twelve years, and then LiteLLM 1.107.0 got hijacked and shipped a credential stealer and a remote access trojan in every single wheel and the Docker images, including latest, and you didn't even have to import it, just installing it was enough, and it's the second time this year, and then Railway paused every deployment on the entire platform because someone got into the environment variables, so now everyone has to rotate every secret they've ever stored there, and TiDB Cloud said someone was walking around inside with stolen credentials for basically a month and an extortion group says they took 10.6 terabytes, and Zeabur got breached for the second time in two months and is just shutting down, like the whole company, and Node.js patched remote code execution and a TLS bypass, and CISA says Plex is being actively exploited, and someone took over 300 Tor exit relays to steal SSH passwords, and SafePay ransomware has hit over 600 critical infrastructure orgs, and India's biggest bank filed a data loss incident, and Japan has been in an official state of emergency in cyberspace since October 9, which honestly explains the 5:55 AM post. Oh, and eMudhra, a certificate authority that's issued over 60 million certificates, whose entire job is proving websites are who they say they are, was supposed to be using private keys that are random numbers over a hundred digits long, and one of them was 4. Just 4. And the others were like 66 and 237. Anyway, it's Wednesday.
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Bitcoin rips with zero buys from from Saylor as the dude that broke the bank of England calls bs on Bessent's failed intervention in US bonds and you're bearish?
"don't look for austerity coming out of the Trump White House in its remaining years"
not shocking but this is gonna get uglier in each subsequent year and admin
SCOOP: Treasury Secretary @SecScottBessent will do whatever it takes to "put the fear of God" into the bond vigilantes, shorting the long end of the curve in an attempt to drive the 10 year yield to 5%, Wall Street executives with direct knowledge of his thinking say. That would include buy backs, selling short-term debt, possible elimination of long-dated bonds like the 20 year etc. It's a short-term solution to keep yields from soaring further, strangling growth as the midterms approach, they say, and doesn't address the real problem: Debt now at the $40 trillion level, and competition for capital from AI buildout. Longer term, don't look for austerity coming out of the Trump White House in its remaining years, they say. The plan remains top possibly "grow" out of the debt level through increased tax revs because the cure for such high debt levels would be recession inducing taxes or austerity. Story developing