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Hot wallet security

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SecurityUnverified10/31, 05:49

Binance says hot wallet attack caused losses of approximately 6300000000 USD, with approximately 3000000000 USD of the stolen assets frozen

Binance says its hot wallet was subject to unauthorized access, with approximately 6300000000 USD in token assets stolen; approximately 3000000000 USD has been frozen, and approximately 80%of the losses covered through raised funds. Withdrawal services have been temporarily suspended and are planned to be restored in phases.

SecurityNews10/30, 05:29

Yu Xian said the Binance hacker used EIP-7702 to batch-sweep tokens from the relevant hot wallets

SlowMist founder Yu Xian said that the Binance hacker used EIP-7702 to batch-transfer tokens from the relevant hot wallets and conducted several hours of rehearsal before stealing the coins. He believes that the mechanism itself was not the root cause of the vulnerability.

# Security Incidents # Binance # EIP-7702 # Hot wallet security # On-chain attack

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