Vitalik Buterin, the co-founder of Ethereum, urged crypto exchanges, custodians, and other institutions holding customer crypto to adopt “bunker mode” for the next two years. His warning followed the Binance hack, in which approximately $6.3 billion was drained from the exchange’s hot wallets on October 29, 2026. According to the research, attackers used social engineering and malware, including fake job interviews, to compromise a DevOps engineer’s laptop. Binance said it would cover customer losses and aims to replenish up to 98% of the stolen assets using corporate funds, while withdrawals resumed in phases. Buterin warned that the frequency and scale of such attacks could lead regulators to impose stricter security standards and impose tougher custodial obligations.
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