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Category: Binance hack

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Binance Hack Rattles Crypto Markets – BNB Drops 8%

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TL;DR Cryptocurrency markets extended their losses after Binance reported a major security breach estimated at $6.3 billion. BNB declined more than 8%, while Bitcoin approached $77,000 and Ethereum fell below $2,300. More than $1.5 billion in leveraged positions were liquidated as investor sentiment weakened. Binance pledged to cover customer losses and confirmed that approximately $3 […]
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THORChain’s RUNE Rallies as Binance Hack Funds Move Through Protocol

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TL;DR: THORChain’s RUNE token climbed more than 13% to $0.67 after Binance confirmed a $6.3 billion security breach. The price increase came as on-chain investigators reported that funds connected to the Binance and Bitget hacks had passed through THORChain, bringing renewed attention to the protocol’s role in cross-chain cryptocurrency transactions. THORChain’s native RUNE token recorded […]
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Binance Hack Shows How One Ethereum Permission Drained $2.5 Billion

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TL;DR Binance hack shows an attacker reportedly used Ethereum’s EIP-7702 authorization feature to drain approximately $2.5 billion from Binance’s Ethereum hot wallet. The attacker gained the ability to move funds without repeatedly requesting individual transaction approvals. The incident forms part of a wider Binance security breach estimated at $6.3 billion. Binance suffered one of the […]