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Raymond and Isiah Garcia held a Minnesota family at gunpoint for more than nine hours, forcing the father to transfer over $8 million in crypto, in one of the clearest “wrench attack” prosecutions yet.
Binance says it has set aside $6.34 billion to cover losses from the breach and the FBI and Secret Service are now working with the exchange as investigators trace the stolen funds.
Richard Teng said the attacker used a self-destruct mechanism and an EIP-7702 delegation that bypassed Binance's normal approval controls.
After Musk appeared to mock Binance’s $6.3 billion hack, CZ reminded him that the exchange’s $500 million bet on his Twitter takeover is now worth over $1 billion in SpaceX shares.
EIP-7702 lets ordinary Ethereum wallets run smart contract code, enabling batched and sponsored transactions. Here's how it works.
Israel's Supreme Court ruled that exploiting a coding flaw can count as computer intrusion, even when the software allowed the transaction.
Just as Hyperliquid opened the door to a fully regulated perps offering inside the U.S., Binance suffered the biggest hack in crypto history.
Both firms blame the group behind the Bybit hack, as Binance says it has set aside $6.34 billion of its own funds to cover user losses.
The hardware wallet manufacturer has yet to examine the device, but is treating the report as credible and told buyers to move their funds.
CEO Richard Teng said the attack was "not a single 'one-click' action," as Binance confirmed about $3 billion has been frozen.
Etherscan records show wallets tied to the suspected Binance hack swapping freezable stablecoins for Ethereum on decentralized exchanges.
An on-chain tally puts the suspected Binance drain at $5.57 billion across three blockchains, as Tether and Circle froze $1.8 billion.
