Comment by reassess_blind
12 hours ago
How is it possible that Binance doesn't have a system that disallows massive simultaneous withdrawals without some kind of two-key manual override or something?
12 hours ago
How is it possible that Binance doesn't have a system that disallows massive simultaneous withdrawals without some kind of two-key manual override or something?
The theft occurred on-chain with smart contract execution, not with their platform. The money was stolen directly from the hot wallet.
"massive" is relative, for Binance this amount could be a few % of a normal day.