TREE NEWS update: Binance CEO said attackers behind the exchange’s hot wallet breach used a self-destruct mechanism to destroy their tools and traces during the operation. The attackers exploited the known multisig protocol EIP-7702 to gain on-chain execution rights over the hot wallet, which was the affected component. Withdrawals remain suspended while Binance rebuilds the service and will not reopen until strict testing is passed; a full proof-of-reserves report is due before next Monday.
Binance CEO: Hackers Used Self-Destruct Mechanism, Hit Binance Hot Wallet
AI take
The detail that stands out is the use of a self-destruct mechanism to erase tools and traces mid-operation — a sign the attackers treated this as a forensics-aware campaign rather than an opportunistic drain, which raises the bar for incident response across centralized venues. The reliance on EIP-7702 for on-chain execution rights also shifts attention to how multisig configurations are audited, since the exploit path ran through a known protocol rather than an unknown bug. The immediate test is operational: whether withdrawals resume only after the stated testing, and whether the promised proof-of-reserves report lands before Monday.
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