North Korean hackers have stolen a staggering $6.36 billion in cryptocurrency from Binance, according to blockchain intelligence firm TRM Labs. On October 29 the attack reportedly drained funds across 10 different blockchains in roughly 20 minutes. TRM attributes the operation to TraderTraitor, a North Korean state-sponsored hacking group.
How did hackers steal $6.3 billion from Binance?
On Ethereum, the hackers exploited a mechanism involving Ethereum’s EIP-7702 standard to hijack a Binance hot wallet and turn it into a contract they fully controlled. They used one of 50 pre prepared authorizations that happened to match the wallet’s transaction count.
On the other…
