Binance Hack Highlights Need for US Oversight of Offshore Exchanges, CFTC Chair Says
Key Highlights Regulators are leveraging the historic Binance security breach to advocate for a “federal option” bringing offshore crypto exchanges under CFTC oversight. Binance identified “additional points of breach” involving compromised signing infrastructure and an on-chain exploit via Ethereum’s EIP-7702, which transformed a hot wallet into a sweeper. While Binance has committed $6.34 billion to ...