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- Hacker News
- For context, that’s about 10 months of fees for Binance, depending on how much of the volume they trade are discounted and considering current average volumes.
- Interestingly, this 18,270 BTC Binance theft is only "the largest crypto theft on record" when measured in USD. In terms of pure BTC, it's not even close to the 2011-14 Mt. Gox loss of ~850,000 BTC!by nomilk
- As someone that has audited most of the major crypto custodians, who mostly ignored my advice and chose speed over security, I am honestly not even a little bit surprised.
Seriously, often many members of an engineering team have the ability to move billions of dollars in value solo.
Negligence is absolutely the default.
by lrvick - If hacking one devops engineer's laptop is enough to move $6B of assets out of Binance, Binance is staggeringly incompetent and their customers need to move their funds out right now.by roca
- Some of the old Mt Gox threads are an interesting read today:
https://news.ycombinator.com/item?id=7203051
by cryptoz - Molly White (she runs web3isgoinggreat) seems to think this is real [0]
- Looks like a DevOps guy is going to take the blame for this: "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." https://x.com/binance/status/2115993361517891592by madradavid
- About $2.4 billion out of this is already frozen by Circle and Tether. Some of the big ones:
- 971.15M USDT (Ethereum): https://etherscan.io/tx/0x7baba482077843514d9c72bac0110ba091...
- 823M USDC (Ethereum): https://etherscan.io/tx/0xc954c86f118e8e410e6a3eb9e3b38ff4a9...
- 312.73M USDT (Tron): https://tronscan.org/#/transaction/71b0ec0fe873fe820c37cc3ec...
- 175M USDT (Ethereum): https://etherscan.io/tx/0x0c07a5e428ce233a3bcb40f257ad899594...
by Tiberium