Reportedroot causeStatement 134
The attacker used an EIP-7702 delegation to gain execution authority over a hot wallet, Teng said. That delegation “did not pass through our normal approval controls.”
Cointelegraph reported that co-CEO Richard Teng said the attacker used an EIP-7702 delegation to gain execution authority over a hot wallet, and that the delegation did not pass through Binance's normal approval controls.
This line is our short summary of the quote below. The quote is the evidence.
On the timeline
Cited in theories
- EIP-7702 caused the hack: Evidence for. Teng: the delegation did not pass through normal approval controls.
- Questions raised about approval controls during the 20-minute transfer: Context. Delegation did not pass through normal approval controls.
Other statements from the same source
ReportedamountStatement 117
Cointelegraph reported that Blockaid said it had identified roughly $3.3 billion in suspicious transfers involving Binance-linked wallets across Ethereum, Arbitrum and Avalanche.
Blockchain security firm Blockaid said its team had identified roughly $3.3 billion in suspicious transfers involving Binance-linked wallets across Ethereum, Arbitrum and Avalanche.
ReportedfreezeStatement 115
Cointelegraph reported that Circle CEO Jeremy Allaire said Circle had frozen more than $800 million in USDC in coordination with law enforcement.
Circle CEO Jeremy Allaire said the company had frozen more than $800 million in USDC in coordination with law enforcement and would continue supporting the investigation.
Reportedroot causeStatement 340
Cointelegraph reported that Richard Teng said the attacker used a self-destruct mechanism to destroy tools and traces, complicating the investigation.
Teng also disclosed that the attacker used a “self-destruct mechanism” to destroy tools and traces during the breach, complicating the investigation.
ReportedwithdrawalsStatement 135
Cointelegraph reported that co-CEO Richard Teng said Binance was aiming to resume withdrawals within 40 hours and publish a full proof-of-reserves report by Monday.
Binance is aiming to resume withdrawals within 40 hours and publish a full proof-of-reserves report by Monday, co-CEO Richard Teng [said]
ReportedreservesStatement 474
Cointelegraph reported that a Binance spokesperson declined to disclose wallet addresses, citing security reasons, and that Binance did not disclose when it acquired the assets.
The spokesperson declined to disclose wallet addresses, citing security reasons. Binance did not disclose when it acquired the assets.