COINTELEGRAPH · 2026-10-30 00:11 UTC

Binance hack may involve private key 'misuse,' not theft: Blockaid CEO

Blockaid CEO says the $2.5 billion Binance hack likely involved attackers manipulating transaction-signing infrastructure rather than stealing private keys, a technique called 'key misuse.' Blockaid's analysis found the attacker used 50 EIP-7702 authorizations in a single transaction to delegate execution to an unverified sweeper contract that drained tokens. The attack resembles the February 2025 Bybit hack and shows sophistication linked to North Korean cyber attackers, according to Ben-Natan.

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