Binance Hack Drained Wallets Backing Customer Assets, Reserve Data Shows
Key Highlights: An attacker exploited Ethereum standard EIP-7702 to siphon approximately 204,500 ETH alongside altcoin assets from Binance-associated exchange wallets. The drain reduced Binance’s ETH reserve ratio from 100% to around 94%, though co-CEO Yi He and founder Changpeng Zhao affirmed that user funds remain secure and will be fully honored. Major stablecoin issuers and ...