This Is What Binance Has Done Following $6.3B Hack

The exchange revoked affected address authorizations and is working with law enforcement and blockchain firms to trace and recover assets. Binance co-CEO Richard Teng told the exchange’s customers that the company will cover all losses after a security incident estimated to have impacted $6.3 billion. Additionally, Binance has conceded that the compromised laptop, which was initially blamed for the breach, was not the only factor, as investigators have found additional points of attack. Binance Working With Law Enforcement In an X post, Teng said that the initial investigations suggested that an attacker may have gained access through a DevOps engineer’s compromised laptop, which allowed them to get into a service container and submit unauthorized withdrawals. However, he cautioned against reducing the incident to one employee’s permissions or a single click. “To be clear: the attacker did not simply use one engineer’s permissions, and this was not a single “one-click” action,” the executive explained. “It involved a more complex attack process. Our investigation has not attributed responsibility to any individual.” Regarding what the exchange had done since the hack, the co-CEO po...