Binance Hack: Teng Says No Private Key Leaked, and Blockaid…
By Tobi Opeyemi Amure
AI summary of the source article
Binance co-CEO Richard Teng stated that no private keys were leaked during a $6.3 billion theft, which involved unauthorized signing across multiple chains. Binance pledged to cover all losses from company and SAFU funds, with about $3 billion frozen on-chain.
Why it matters
"That sequencing matters more than it sounds, because a wallet refilled before its delegation is cleared is a wallet that drains again without anyone signing anything."
Key facts
- Binance co-CEO Richard Teng said there is no evidence of private key leaks, while security firms reported unauthorized signing via compromised signing infrastructure.
- The attacker used EIP-7702 authorizations to execute transfers across ten chains, including a single transaction valued at roughly $2.5 billion.
- Binance suspended withdrawals to revamp security and pledged to cover all customer losses from SAFU and company funds.
Source excerpt · FinanceFeeds
Binance co-chief executive Richard Teng has published a full statement on the $6.3 billion theft, and the line investors will test is the shortest one in it. “So far, we have found no evidence of any wallet private key leak,” he wrote. Security firm Blockaid, which detected the Binance hack drain under two minutes after it began, counts eleven Binance hot wallet keys signing transfers to an addres…