Binance details October 29 security incident and response

Binance said a security incident on October 29 affected roughly $6.34 billion in digital assets and prompted a series of containment measures, including withdrawal suspensions, asset freezes and system rebuilds. In a report published November 3, the company said its preliminary findings point to unauthorized access to an internal wallet-signing service and abuse of Ethereum's EIP-7702 authorization mechanism. According to Binance's initial findings report dated November 3, the final unauthorized transfer was completed at 23:56 UTC on October 29 and the wallet's delegation code was cleared at 00:10 UTC on October 30. Binance said the attack involved delegation of partial execution rights over a hot wallet to an attacker-controlled contract. The company described the findings as preliminary.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Blockchain.News.