Attackers moved about $6.34 billion from Binance wallets via EIP-7702
Original title: Attackers in Binance Breach Targeted Known Weakness, Missing Controls
A sweeper on a treasury wallet took about $2.5 billion, and the authorization kept draining funds for roughly four hours.
On October 29, attackers transferred around $6.34 billion in cryptocurrencies from at least 11 Binance-owned wallets to addresses they controlled. According to BlockAid, they used an EIP-7702 Ethereum smart-account authorization to install sweeper code that emptied a primary treasury wallet of more than five dozen coins, about $2.5 billion, leaving a single ETH. Binance’s systems alerted within minutes and the company took countermeasures, but the standing authorization continued to move later deposits for about four hours. Experts said Binance lacked a tested way to detect and revoke the malicious authorization quickly.
Unconfirmed: The dollar totals come from reporting and a BlockAid analysis, and claims about missing kill-switch controls are attributed to experts.
- The theft involved at least 11 Binance wallets on October 29.
- BlockAid said the main treasury wallet held more than five dozen cryptocurrencies.
- That wallet was left with a single ETH coin.
- The smart-account authorization kept working for about four hours after alerts.
Impact: About $6.34 billion in cryptocurrency transferred to attacker addresses
| Product | Affected |
|---|---|
| Binance exchange hot wallets | — |
Indicators of compromise
auto-extracted · verify before use · export allAll| Type | Indicator | Context |
|---|---|---|
| md5 | 21b825d74e7c4683dd09d788c7fc31aa | /apple-patch-policy-ai#recipe=similar-items&sourcecontentid=21b825d74e7c4683dd09d788c7fc31aa) Apple Reverses Age-Old Patch Policy to Keep Up With AI by |
| md5 | 362b8b6db1ce493c4eee55479e5eaafa | over-to-private-sector#recipe=similar-items&sourcecontentid=362b8b6db1ce493c4eee55479e5eaafa) Hand CVE Over to the Private Sector by Brian Martin Jan 2 |
| md5 | 3e902b4f0859291fd322f90ebc26a2b7 | poses-ai-security-gaps#recipe=similar-items&sourcecontentid=3e902b4f0859291fd322f90ebc26a2b7) Europe's Multilingual Reality Exposes AI Security Gaps by |
| md5 | 584125add54736d0d7bd9eb777c54e8a | gy-prioritizes-offense#recipe=similar-items&sourcecontentid=584125add54736d0d7bd9eb777c54e8a) White House Cyber Strategy Prioritizes Offense by Jai Vij |
From the original article
10 min read at darkreading.com
Blockchain complexities, such as attacker-deployed sweepers, hobble security controls designed to limit the damage of an exchange compromise.
By Robert Lemos · darkreading.com
A short excerpt; the article and its images belong to the publisher. Summary, key facts and assessment above are AI-written from the article and can be wrong.