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Web3 security data infrastructure provider GoPlus said about $5.8 billion was stolen from Binance’s multichain hot wallet system, with roughly $3 billion of that frozen.
According to GoPlus, the independent platform Binance US was not affected, BNB Chain was not attacked, and the incident was not related to Ethereum or an EIP-7702 vulnerability. GoPlus said the attacker obtained a valid EIP-7702 authorization signature for Binance 14 hot wallet, delegated the wallet to a malicious contract, and then transferred ETH and 63 tokens in a batch. The attacker also took control of USDC held in hot wallet 34, it added.
A CoinNess analysis of the GoPlus statement indicates the root cause appears to be abuse of the signing and withdrawal system, with a compromise of the signing infrastructure seen as more likely than direct exposure of private keys. GoPlus added, however, that the leak of multiple private keys or a software supply chain attack still could not be ruled out.