BINANCE - BIGGEST HACK EVER, $6.3 BILLION WORTH OF ASSETS STOLEN [UPDATED]

[sergiorus]

Unconfirmed, but possibly massive binance hack. Entire Binance wallet drained into new EOA. Contract call was funded by Tornado Cash

Source: https://x.com/spreekaway/status/2115904721856651382

ETH got moved to new wallet. Not looking great

Source: https://x.com/spreekaway/status/2115907183259107486

Connected wallets have started dumping Tether so I think it can be strongly assumed to be malicious at this point

Source: https://x.com/spreekaway/status/2115910391633256868




Binance hot wallet appears to be suffering a theft of about $2.53 billion in over 60 tokens on Ethereum — unconfirmed
Tx hash: https://etherscan.io/tx/0x53bd38b816c23e74134786c29a8c18d792777998a3b9326047b583100e88e2f3


A thread with a possible explanation:

1/4 EIP-7702 can turn the wallet itself into the sweeper.

A Binance-labeled wallet moved 167,464 ETH + 63 tokens, including 1.615B USDT, just 3m24s after a signed delegation was installed.

This is bad.

Source: https://x.com/odysseas_eth/status/2115910280140276155




BNB coin is plummeting.

Still not confirmed by any official account. More to update.




UPDATE:

Official X account of Binance recognised the issue:

Our teams are aware of reports of a potential security issue and are actively investigating.

Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have verified information.

Users should remain cautious of scams and should not trust unofficial links, messages, or requests for account information.

Source: https://x.com/binance/status/2115917658680074294



UPDATE #2:

Looks like we had our biggest hack ever as Binance officially announced $6.3 billion worth of assets affected.

Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.

The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.

As an immediate precaution, Binance has:

- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.

Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.

Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.

Source: https://x.com/binance/status/2115993361517891592

[DubemIfedigbo001]

I think it's true I can confirm that I've tried to withdraw USDT from Binance and it's over 10 mins now and it's not withdrawn, so I can confirm that Binance has disabled withdrawals, so they were actually hit with a security incident. It's quite a pity, #NOT YOUR KEYS NOT YOUR COINS. Let's wait for their official news

[rdluffy]

https://x.com/WatcherGuru/status/2115913607644860593

I hope it's not true, but... 

[mikel_012]

https://x.com/WatcherGuru/status/2115913607644860593

I hope it's not true, but...  

Sadly it is true

At least Tether is very active and they froze everything VERY FAST

But the ETH is going to be laundered with no chance to be recovered

Circle froze $828 million USDC, also very good job


Source: https://x.com/WatcherGuru/status/2115914858248196115

[sergiorus]

https://x.com/WatcherGuru/status/2115913607644860593

I hope it's not true, but...  

Sadly it is true

At least Tether is very active and they froze everything VERY FAST

But the ETH is going to be laundered with no chance to be recovered

Circle froze $828 million USDC, also very good job


Source: https://x.com/WatcherGuru/status/2115914858248196115

Ok seems like most of the funds (in $ value) have been frozen but the hacker (still unconfirmed officially, but at this point it's obvious) still holds large amounts of dozens of various altcoins, some of which may plummet very hard once the hacker starts selling...

[boyptc]

I also just saw this news and like WTF is happening, so this is the reason why the market is tanking right now.

Waiting for the announcement of Binance but I guess that reaction from Tether and Circle was quick.

What a day before it ends. Very wild, from hardware wallets and to this, now people who said that exchanges are better for keeping their funds will take back their words.

CZ posted on his X.

User funds are safe!

It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m).

I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.

[nelson4lov]

Everyone saying that Binance is yet to release an official statement forgetting that things like this take a while because they first have to do some damage control so they can ensure that whatever caused the hack in the first place has been fixed. We would probably get a Post-mortem in the next 24hrs. Between Tether and Circle, around 80% of the hacked assets have been frozen and Binance SAFU funds will would make it whole.

The only problem with this hack is the bad PR considering Binance has been the biggest crypto firm for over a decade.

[Rikafip]

Don't worry guys, CZ says that funds are SAFU. 

[Stalker22]

Binance has not confirmed or denied the hack yet, but pretty much everything points to it being real.

[eddie13]

2.5 billion in 60 eth tokens? That has to be the majority of their market caps id think.. assets wrekt

Oh no its mostly usdt/c they will probably roll back and thats a lot of eth, had to read twice

Those are some mighty big hot wallets.. Wonder if their volume really justifies that much hot..

[Frankolala]

Holy shit! This is serious. No one is save from these hackers as they're working endlessly to see how they can steal funds from big whales and others. It wasn't up to a month that Bitget got hacked. We haven't heard anything from Binance yet and I hope that customers funds are SAFU.

[Aliciaworld]

These hacks have gotten more and more expensive. This is really sad.

[mikel_012]

2.5 billion in 60 eth tokens? That has to be the majority of their market caps id think.. assets wrekt

Oh no its mostly usdt they will probably roll back and thats a lot of eth, had to read twice

Those are some mighty big hot wallets.. Wonder if their volume really justifies that much hot..

Not all the amount is in eth tokens

But the hacker is trading everything to ETH so the price of the coins will fall very hard

You can see the hacker wallet: https://etherscan.io/address/0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c

[MK-74]

Binance founder Changpeng Zhao:

"User funds are safe!

It appears that Binance has been hit by a cyberattack. I would like to thank Tether for quickly freezing approximately $971 million and Circle for freezing $823 million.
I no longer run Binance.com, but as a shareholder, I expect all user funds to be fully covered."

Tether announced that it had frozen more than $1.5 billion in USDT associated with the Binance hack.

It was determined that the amount of funds leaving Binance exceeded $5 billion.

[Bitcoin_Arena]

Got a notification on mobile device alerting me about the price drop of BNB and I wasn't really sure what was going. I guess it now makes sense

That is a massive outflow will surely be felt by the giants if it happens to be as a result of a hack. I also believe they will be able to absorb the shock but it's yet again another reminder to pull funds off a centralized exchange.

[Nwada001]

With how active CZ Binance is, even as he’s no longer the one managing Binance, I never thought they would be hit very soon.

From one exchange to the other, every other should be ready.

2.5 billion in 60 eth tokens? That has to be the majority of their market caps id think.. assets wrekt

Oh no its mostly usdt/c they will probably roll back and thats a lot of eth, had to read twice

Those are some mighty big hot wallets.. Wonder if their volume really justifies that much hot..

In the history of hacks, this is one of the fastest I have seen. Tether and Circle take action, which is impressive. At least centralized tokens have somehow been useful; out of the $2.5 billion, $1.8 billion has already been frozen (that is, if that’s the only stolen amount).

[coinlary]

Holy shit! This is serious. No one is save from these hackers as they're working endlessly to see how they can steal funds from big whales and others. It wasn't up to a month that Bitget got hacked. We haven't heard anything from Binance yet and I hope that customers funds are SAFU.

Yeah, for now. If it doesn't get darker.
 

Don't worry guys, CZ says that funds are SAFU.  

Binance founder Changpeng Zhao:

"User funds are safe!

It appears that Binance has been hit by a cyberattack. I would like to thank Tether for quickly freezing approximately $971 million and Circle for freezing $823 million.
I no longer run Binance.com, but as a shareholder, I expect all user funds to be fully covered."

Tether announced that it had frozen more than $1.5 billion in USDT associated with the Binance hack.

It was determined that the amount of funds leaving Binance exceeded $5 billion.

You're giving me the vibe of JackpotRacer, it's been a while I've seen such a clourful post   since JackpotRacer stop posting. Is he back.

Anyway, that was by the way.  CZ knows alot about binance,  but judging this is probably the biggest one so far I wouldn't want to believe all he's  saying that much.

What a year  

[Crypto Library]

CZ expects that users' funds will be safe and on the other hand Binance officially says that they are investigating this important security issue but they did not say that this hacking incident will not have any impact on users' funds.

I do not know what is going to happen to users in the future. I also had some USDT, including previously invested altcoins, on Binance. Today, after hearing about this incident, I tried to withdraw my USDT(bep-20). Even after more than 20 minutes, it has not been approved yet. Where it says USDT(bep-20) withdrawal took 5 to 10 seconds.

God knows if our funds will be able to be withdrawn in the end. However, I have survived and moved my large amounts to USDT(Erc-20) in another non-custodial wallet a long time ago.

still pending

[Hypnotizer]

https://x.com/kairos_res/status/2115915408721293437?s=46

Reportedly the funds they’ve been hacked exceeds $5B..

From Watcher.Guru: https://x.com/watcherguru/status/2115922259739349132?s=46

Damn.

[Joy_learns_crypto]

Everyone saying that Binance is yet to release an official statement forgetting that things like this take a while because they first have to do some damage control so they can ensure that whatever caused the hack in the first place has been fixed. We would probably get a Post-mortem in the next 24hrs. Between Tether and Circle, around 80% of the hacked assets have been frozen and Binance SAFU funds will would make it whole.

The only problem with this hack is the bad PR considering Binance has been the biggest crypto firm for over a decade.

Also for security reasons platforms like this tend to keep quiet for a while so as not to give away any useful information to the suspects, the hackers just like us are waiting for any statement that will come out from binance.
About damage control they can do so little about it, they could blame it on some mistakes that looks humanly possible but that won't take away the damage that a huge money was taken away, the best damage control they can do now is to release positive news about the funds being tracked and hackers known.