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- $RSR listed on Upbit spot (KRW) New Listings Feed
- ok safe to say binance is pwned The biggest assets were approximately: • 1.615B USDT • 62.6M RLUSD • 29,934 wBETH • 11,372 XAUt • 6.19M UNI • 198.4M ENA • 7.175T PEPE • 27.8M USD1 • 2.26M LINK • 127,853 AAVE about $2.5B at the explorer’s prices. 1. The attacker deployed a delegate contract, 0x63e842b0...73e9c6fAe, from the relayer at 15:59 UTC. 2. About four hours later, the relayer submitted an EIP-7702 authorization transaction That installed the malicious 7702 delegate code on Binance 14. 3. The relayer then made a call to Binance 14, executing the delegate code, and transferring Binance 14’s ETH and token balances. 4. The calldata is labeled sweep(address, address[]). The second argument is a list of recognizable token-contract addresses plus the zero-address (eth). 5. The same relayer later used the same delegate to move 780M USDC from Binance Hot Wallet 34 into the same pool • The relayer 0x7C... was funded by three Tornado Cash 0.1 ETH withdrawals over the prior two days. • The same pool also received 28,005.6 ETH from Binance 16 24 seconds after the main sweep. • The pool then forwarded 195,460 ETH to a fresh, unlabeled EOA • That EOA has only one transaction and currently holds the 195,460 ETH. What's a bit unclear is why the relayer was needed in the first place. If they had the private keys to the Binance wallets, they could have just sent the assets out in an atomic bundle without needing a relayer at all. So it seems likely that they didn't have the private keys and instead just had the 7702 auth signatures, which must have been phished somehow. I think we can go ahead and assume DPRK. Quit
Latest
- Update on the Binance hot wallet exploit and RSR: The stolen RSR has been sold, Reserve’s contracts were not affected, and RSR holders don’t need to do anything. If you held RSR on Binance, follow @binance’s updates. They’ve said “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.” We take this to indicate they intend to re-purchase all assets lost in the exploit, including 3.38B RSR, to make their users whole. However, we have not been briefed on the specifics of how Binance intends to cover losses and have not done any of our own financial analysis of Binance’s ability to absorb this loss. The attacker took 3.38B RSR from Binance. Between 8:53 and 9:08 PM ET on Oct 29, they swapped all of it on Uniswap v3 for 1,856 ETH ($4.1M). As far as we can see onchain, they no longer hold any RSR, though it remains possible that the onchain swaps included wash trades with obscured attacker-funded wallets. See: Before the sale, we pulled Reserve treasury-provided onchain liquidity so it couldn’t serve as the attacker’s exit. It appears that arbitrage bots and other traders bought the RSR instead. RSR is immutable with no admin keys, so no one, including us, can freeze it. The RSR token and Reserve protocol contracts were not affected. Since the attacker apparently no longer holds RSR, we believe it can’t be used in bulk against Reserve DTF governance. We are continuing to monitor the situation for any potential cascading effects of so many tokens being stolen and sold at once. For now we do not see any cause for pausing any Reserve products, so everything remains in normal operation. Reserve 🌐
- We’re aware of the suspected Binance hot-wallet exploit, which appears to include ~3.4B RSR. The RSR token and Reserve protocol contracts are not affected; this is an exchange custody incident. RSR is immutable with no admin keys, so no one, including us, can freeze it. We’re working with Binance, market makers, and exchanges to flag the attacker’s addresses, and monitoring RToken/DTF governance. For your Binance account, follow Binance’s updates. According to CZ, user funds are not at risk, indicating Binance will cover any losses. As a precaution, we’ve temporarily withdrawn Reserve-provided onchain RSR liquidity so the stolen RSR can’t be sold into it. Third-party LPs in RSR pools should consider doing the same. Reserve 🌐
- Attention! The Binance hacker is now dumping $PEPE, $UNI, $LINK, and other tokens on-chain for $ETH. Please note: The hacker still holds large amounts of the following altcoins, which could face heavy selling pressure: 217.497M $ENA ($39.51M) 7.579T $PEPE ($34.41M) 2.575M $LINK ($28.07M) 128.034K $AAVE ($15.9M) 74.56M $ARB ($11.54M) 1.938M $UNI ($12.62M) 21.852M $ONDO ($8.52M) 17.318M $WLD ($6.73M) 714.911M $FUN ($6.29M) 87.853M $ZAMA ($6.02M) 3.602M $ZRO ($5.69M) 3.382B $RSR ($5.02M) Lookonchain
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