According to Ido Ben-Natan, Blockaid co-founder and CEO, the attack on Binance likely compromised the transaction-signing infrastructure rather than stolen private keys. This preliminary assessment is based on Blockaid’s onchain observations and its experience with similar attacks. The hacker reportedly bundled 50 EIP-7702 authorizations into a transaction targeting Binance 14, then used an unverified sweeper contract to drain tokens and ether. Binance has not yet confirmed the precise method used in the attack, which resulted in the theft of more than $2.5 billion in cryptocurrency, and the hacker may still be active. Arkham CEO Miguel Morel said the available information was insufficient to confirm whether stolen keys or compromised infrastructure were involved.
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