Binance hack may involve private key ‘misuse,’ not theft: Blockaid CEO
Summary
Blockaid’s preliminary analysis suggests the suspected Binance hack may have exploited compromised transaction-signing infrastructure rather than stolen private keys. Its onchain review found 50 EIP-7702 authorizations bundled into one transaction; one matched the account’s nonce and enabled delegation to an unverified contract that could drain assets. Binance has not confirmed the attack method, and Arkham’s CEO said the hack appeared ongoing. Blockaid’s CEO said the operation resembled the 2025 Bybit attack, though the method and any link to North Korean attackers remain unconfirmed. The reported losses exceed $2.5 billion.
