Hackers stole about $6.3 billion from Binance on Thursday, making it the largest cryptocurrency theft ever recorded. Bowery investigators, blockchain analysts and Binance executives, including co-CEO Richard Teng, said the attack compromised multiple breach points and did not rely solely on one engineer’s permissions. Teng said the attackers used an EIP-7702 delegation to gain execution authority over a hot wallet, while a self-destruct mechanism destroyed tools and evidence. Binance set aside more than $6.34 billion to cover the losses, suspended withdrawals and aimed to restore them within 40 hours while preparing a full proof-of-reserves report.
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