The attackers exploited Ethereum’s EIP-7702 mechanism, which allows wallets to delegate transaction permissions to smart contracts. This technique facilitated unauthorized transfers after withdrawals were suspended, while Binance’s multiparty computation wallet system made revoking those permissions more difficult. The hack affected approximately $6.3 billion in digital assets, of which $2.85 billion had been frozen or intercepted, according to Binance. The exchange said it would absorb the losses rather than pass them on to customers and had replenished 98% of the affected token assets as of October 31. The FBI attributed the attack, described as the largest cryptocurrency hack in history, to North Korean hackers, a claim denied by Kim Yo Jong, sister of North Korean leader Kim Jong Un.
Source: Read the original article
