ryvz retweeted
Safe and secure, that’s how QZAR operates.
I’ve spoken to the team at length about the security side of things
let’s just say they’ve worked a lot on it
The biggest hack in crypto history reportedly didn't need a single private key.
One engineer's laptop => 20 minutes => $6.3B out of hot wallets.
We don't want to present this situation with Binance, Bybit and other as a way to promote our product.
You're free to simply trade from your own wallet.
ryvz retweeted
fomo and pumpfun both shipped social perps this week
trade-sharing rewards everywhere
hot take: sharing was never the hard part
if a 50x lucky print earns the same as a well-sized thesis, you just built a leverage casino with a feed
perps + a real ranking system, soon on @qzar_xyz
Stop the planet V2
The negative version didn’t take long to appear
teapawt.net/rslashnev/status/21158…
1/4 EIP-7702 can turn the wallet itself into the sweeper.
A Binance-labeled wallet moved 167,464 ETH + 63 tokens, including 1.615B USDT, just 3m24s after a signed delegation was installed.
This is bad.
etherscan.io/tx/0x53bd38b816…
ryvz retweeted
A major exchange was hacked this week. Our thoughts are with everyone waiting on their funds.
Kognai is safe by design
Security is not a feature we add later. It is how the engine is built 👇 🧵
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
binance.com/en/support/annou…
ryvz retweeted
There is no amount of money you could pay me to be a DevOps engineer for a crypto exchange
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
binance.com/en/support/annou…
ryvz retweeted
Update: The attacker just **LOVES** RLUSD
Freezes landed. Liquidation continues.
~$1.80B USDT/USDC frozen. 36M RLUSD swapped for 15,439 ETH; 52.54M RLUSD still unfrozen at the holder.
~$5.72B in linked holdings. Final net loss unconfirmed
1/4 EIP-7702 can turn the wallet itself into the sweeper.
A Binance-labeled wallet moved 167,464 ETH + 63 tokens, including 1.615B USDT, just 3m24s after a signed delegation was installed.
This is bad.
etherscan.io/tx/0x53bd38b816…
ryvz retweeted
Seeing that the Binance exploit involved EIP-7702 delegation is naturally shocking, particularly given the amount of funds involved and the apparent failure of its custody security controls.
However, there will come a time, if we fail to transition toward post-quantum cryptography, when any ECDSA wallet with an exposed public key could become vulnerable to private-key recovery and transaction forgery using sufficiently advanced quantum computing, potentially accelerated by autonomous AI agents.
Naturally, I believe we will implement the necessary cryptographic upgrades before that threshold is reached.
Until then, from a quantum-security perspective, one of the safest places to store funds is a securely generated wallet that has never signed or broadcast a transaction and whose public key remains unexposed.
Stop the planet V2
The negative version didn’t take long to appear
teapawt.net/rslashnev/status/21158…
ryvz retweeted
What’s the one thing that would make perps experience better for you?
Hyperliquid is now always on-trend. At the very least, they’ve added value to the current market by making perpetuals trading simpler and available 24/7
Coming soon to QZAR x @HyperliquidX