Binance's Teng Says Industry Must Learn From Hack: Do New Crypto Features Raise Risk?

Binance co-CEO Richard Teng says the industry must learn from the $6.3 billion Binance hack. Hackers combined a new Ethereum (ETH) feature, fake recruiters and AI techniques, raising questions about new crypto tools. Yet one Ethereum researcher says the feature itself is not broken. ETH holders on exchanges could be exposed through custodians’ signing systems rather than the upgrade. What Does Teng Say the Industry Should Learn From the Binance Hack? Teng told CNBC on Tuesday that Binance published a detailed report so the industry can learn from it. He cited an FBI attribution to North Korea and a campaign built over months. The campaign began with a fake developer tool in June, he said, then fake recruiter interviews in September.

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