Investor, Engineer, former YouTuber, #bitcoin
United States
Joined December 2020
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So.. the signatures required either the keys or the ability to make Binance’s signing system produce them. As of now- compromise of the signing infrastructure more likely vs. raw key theft, but an insider can't be completely excluded.
My guess- insider + external actors.
‼️ UPDATE ON THE BINANCE HACK:
Whoever emptied a Binance hot wallet had 50 authorisations signed with that wallet's own private key, on-chain data shows.
Under Ethereum's EIP-7702, an authorisation is a signed permission that lets a wallet hand control of itself to code.
Each one works only for the wallet's next transaction number, its nonce. Binance's wallet was still sending transactions, so that number kept moving.
The sender didn't know which number would be live, so they packed all 50 into one transaction, Blockaid says. One matched.
That one installed a sweeper contract on the wallet. Blockaid found that only the Tornado Cash-funded sender can operate it.
Minutes later it emptied the wallet of $1.6B in USDT, 167,464 ETH and 60+ other tokens.
Only that key, or the system that holds it, can produce those signatures. How the sender got them is unknown.
Across Ethereum, Bitcoin and Tron, at least $5.57B left Binance-linked wallets.
Binance says user funds are "completely safe" but has not explained how.
Unwitting insider + external actor. I was close.
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
binance.com/en/support/annou…
zcash:native is dangerous as ever. Only 1 dollar in 10–12 is actual spot. 90%+ of the volume is paper (perps and futures). Nobody is holding the coins- it's all about profiting.
Last 24h
Spot: ~$1.5–1.6B
Derivatives: ~$13–15B (90%)
Last 30 days
Spot: $14.7B
Derivatives: $163B (91.7%)
Anyone who wants Bitcoin is now competing against ETF buyers. You have nights and weekends to front-run them.
Absolute chaos is unfolding in this industry. Here’s how to protect yourself amid the hardware wallet insanity:
1. Use a data broker removal service to scrub your personal information from public records.
2. Never ship wallets or sensitive gear directly to your home address. Use a PO Box, office address, or a nearby apartment complex’s leasing office.
When tracking shows delivery, go pick it up. If asked, say you’re staying with a friend and accidentally used the leasing office address.
3. Keep your wallets geographically dispersed and physically secure.
4. Own a firearm. If anyone comes through your door and threatens you, you fast-track their exit from the matrix.
We have some difficult news to share. Unfortunately, one of our shipping providers has experienced a data breach that exposed sensitive order data. This affects new customers in the US, UK, Sweden, Colombia, Brazil, Italy, and Portugal who received an order within the 90 days prior to August 8th, 2026.
The data exposed:
- Full names
- Shipping addresses
- Phone numbers
- Email addresses
The incident affects 11,742 customers with full exposure (name, email, phone number, shipping address) and 1,947 customers with partial exposure (name, city, email). The breach is limited due to Trezor’s strict 90-day data storage policy (we were also able to negotiate the same terms with fulfillment partners, who follow the same policy).
All affected customers have been contacted separately by email.
Our systems and devices remain secure, but affected customers could experience an increase in phishing attempts.
NEVER enter your wallet backup on a website or share it with anyone, and only check for updates on official Trezor channels.
We are deeply sorry to the community and those affected.
We are investigating this situation and will post updates on our blog:
trezor.io/blog/news/recent-c…
The Coldcard firmware bug has now drained over $100M from self-custody holders. This makes one thing clear to me: self-custody likely will never go mainstream. It will remain niche- as it is today.
The moment banks start offering Bitcoin custody, most people will follow them.
Added more Magic the Gathering Reserved List, Mythic Borderless Foils, and Sealed Products to the collection over the last week. All the 2020 and prior MTG purchases have appreciated very well.
TCG investors / collectors- what's on your list? Here's my list (minus counts) from this acquisition round.
Reserved List
Tolarian Academy
Dream Halls
Firestorm
Corpse Dance
Squandered Resources
Borderless Foils
Doctor Doom
Shang-Chi Master Of Kung Fu
The Ten Rings
The Unbeatable Squirrel Girl
Rare Foils
The Soul Stone
The Mind Stone
Sealed Product
Marvel Super Heroes Collector Booster Box
Spider-Man Collector Booster Box
The Hobbit Play Booster Box (Pre-Order)
Marvel Super Heroes Play Booster Box
The FUD against $MSTR is constant. Meanwhile the very mechanisms they trash exist to strategically get navigable $BTC volatility.
Strategy announces a Digital Credit Capital Framework designed to strengthen Digital Credit, enhance liquidity, preserve long-term Bitcoin exposure, and support long-term value creation. $MSTR $STRC strategy.com/press/strategy-…
Wish meditation came easier to me, difficulty silencing the mind for quality rejuvenation is the root of many of my struggles. Need to prioritize it- and these days time feels like the one thing I have no supply of.
Dropping forward guidance means the Fed stops manipulating markets with vague hints about what they might do.
Markets should price based on actual economic data- then adjust when the Fed makes real decisions. No more endless speculation over unclear signals. Cleaner and how policy should work.
You think you’ll work less bc of AI, but when you can build anything or solve any issue in minutes all your time is consumed by increased demand & throughput. My engineers now deliver at the rate of a team 5-10x our size, and our capabilities are expanding daily.