Binance Co-CEO: Attackers Used Self-Destruct Mechanisms, Making the Hack Harder to TraceBinance Co-CEO Richard Teng @_Ri | Hanami
Binance Co-CEO: Attackers Used Self-Destruct Mechanisms, Making the Hack Harder to Trace
Binance Co-CEO Richard Teng @_RichardTeng updated the investigation into the roughly $6.3 billion hack on October 30, saying multiple people were involved. Investigators initially suspected a compromised laptop but later found other entry points. Attackers used self-destruct mechanisms to erase tools and traces, complicating the investigation.
Teng said they used EIP-7702 to gain on-chain execution authority over a hot wallet without passing Binance's normal approval controls. Binance paused withdrawals to rebuild and test its systems, targeting restoration within 40 hours. It is also working with law enforcement to trace and recover stolen funds.