Crypto read · shared from CryptoBloggers

The $6.3 billion Binance hack paradox: Centralization made the hack possible, but also saved $3 billion

CoinDeskJamie Crawley3h ago7/10

Analysis of the $6.3B Binance hack argues centralization both enabled the breach and limited losses to about $3B.

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1
'Elite North Korean hackers' blamed for $6.3B Binance hack
theguardian.com1d ago8/10
Attribution of the $6.3B Binance hack to North Korean TraderTraitor hackers, the largest theft story of the moment.
Also covered by Galaxy Research
#Security
2
Binance hit by $5.8B hack as Tether and Circle freeze billions
Cointelegraph2d ago9/10
Binance is investigating a multibillion-dollar hot wallet breach, with Tether and Circle freezing over $2.36B in stablecoins; the figures are still shifting.
Also covered by Protos, CoinDesk, Decrypt, Chainalysis +6 more
#Security #Stablecoins
3
Binance is investigating a major security incident that resulted in unauthorized withdrawals estimated to have a financial impact of about $6.3 billion, the cryptocurrency exchange said.
r/CryptoCurrency1d ago8/10
Binance reports a security incident with unauthorized withdrawals estimated at $6.3 billion.
#Security #Markets
4
18,270 BTC left a Binance hot wallet in one transaction, and no one can freeze it. Censorship resistance cuts both ways, and so does "not your keys"
r/Bitcoin1d ago8/10
On-chain tracing via TRM Labs shows 18,270 BTC left a Binance hot wallet in one transaction, and the BTC cannot be frozen, unlike stablecoins. A sharp look at censorship resistance.
#Security #Bitcoin