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Attacker gets away with up to $3 billion from Binance (www.citationneeded.news)
submitted 1 week ago by to c/technology@lemmy.world
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Article is by Molly White, who you might recognize from Mastodon and web3isgoinggreat.com:

https://hachyderm.io/@molly0xfff/117526961419935070

I wrote up what we know about the Binance hack so far. By my best estimate, Binance is out around $3 billion after stablecoin issuers froze what they could. Changpeng Zhao is promising Binance will cover it, but he’s legally barred from running the company.

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[–] 2 points 6 days ago (3 children)

Are you saying Binance engineers always intended to trigger a steal? Because that’s exactly what I thought when I saw the headline but I’m not well informed about block-chain security.

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  • [–] 3 points 6 days ago* (2 children)

    No, I think someone obtained one of their employees' credentials via social engineering. It's not that hard to do, you just call someone and tell them you're from IT and their password, or security key, or passkey or whatever is expiring and pretend to set them up with a new one or convince them to let you remote into their PC to make some kind of security update.

    That's usually how it happens.

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