BUSINESS TIMES SG · 2026-11-06 09:59 UTC

Binance hackers weaponised feature to make crypto wallets easier to use

Hackers stole US$6.3 billion from Binance last week and took about 40 per cent of it, roughly US$2.5 billion, in a single transaction. The thieves paid about US$15 in network fees to grant attacker-controlled software permission to act for Binance's hot wallet Binance 14, using Ethereum's EIP-7702 upgrade. Binance said the attack was a multi-stage campaign that used phony job postings to get an engineer to download malicious code.

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