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🚨 Ronins Intelligence reports a $6.3 billion Binance security breach traced to a compromised DevOps engineer’s laptop, giving attackers access to withdrawal systems.
🔐 The update reports approximately $2.7 billion to $3 billion frozen through Binance and TRM Labs, with more than $3 billion still unrecovered, including roughly $1.5 billion in Bitcoin.
An incident of this reported scale puts exchange security and custody firmly in focus.
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#Binance #Bitcoin #CryptoSecurity #RoninsIntelligence
Crypto Ronins ⚡ retweeted
thank you! 🙏
Crypto Ronins ⚡ retweeted
Well, Aave just confirmed it.
The Binance hacker deposited $60 MILLION in USDT and borrowed 19,762 ETH against it.
Around $44.6 million worth of ETH at the time.
And here’s the crazy part.
He did it roughly 40 minutes before Aave started freezing its markets.
The lending position is still overcollateralized, so Aave says its users aren’t currently at risk.
But the hacker managed to turn $60M in freezable stablecoins into nearly $45M in ETH before the restrictions kicked in.
Pretty incredible timing.
This is exactly why I find DeFi so fascinating.
The Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto.
First, Tether froze $1.5 billion in USDT.
Then Circle froze another $800 million in USDC.
At that point, it looked like the hacker’s money was trapped.
But apparently, he had already planned for that.
Instead of holding the stolen USDT in a wallet, he allegedly deposited it into Aave and used it as collateral to borrow ETH.
Then he walked away.
That’s where the story gets crazy.
Tether can freeze the USDT sitting in the wallet.
But it can’t freeze the ETH he already borrowed.
So now Aave is left holding frozen collateral, while the hacker is sitting on liquid ETH.
And unless the protocol can recover it somehow, he may not even need to pay the loan back.
Two companies froze billions of dollars in seconds.
But someone who understood how to use DeFi may have found a way around both of them.
Pretty insane when you think about it.
Readers added context they thought people might want to know
The described Aave deposit used only ~60M USDT as collateral to borrow 19,762 WETH before freezes hit the main wallet, not the bulk of funds; Aave states the overcollateralized position is subject to normal liquidation with no material protocol risk.
governance.aave.com/t/binance-hot-…
x.com/binance/status…
drk.vc/news/binance-1…
Crypto Ronins ⚡ retweeted
Look at the contrast:
Binance loses billions:
- Coinbase manually blocks addresses
- Tether and Circle freeze billions in 60 minutes
- Ripple and World Liberty coordinate in group chats
- Executives hug it out on X
A normal user loses $50k to an approval scam:
- "Blockchain transactions are irreversible, anon"
- "Code is law"
- "Have you considered reading the contract bytecode?"
- Zero help from stablecoin issuers
Decentralization for the peasants, emergency bailouts and centralized freezes for the tier-1 cartel.
There are two crypto industries, and you’re not in the protected one.
Our team is doing everything we can to support in the current situation, including blocking sends to compromised wallets. We've also reached out to Binance to offer our help.
Moments like this call for the industry to work together. Openly sharing any useful information and helping to protect customers should come first, regardless of which platform they use. If you can do anything to help, please do!
Crypto has been through many tough times, and has always come out stronger on the other side. This won’t be any different.
Crypto Ronins ⚡ retweeted
Investigation update: Our initial investigation suggested that the security incident may have involved a compromised laptop, however our subsequent investigation has uncovered additional points of breach.
This was a complex attack, and we are doing all we can in coordination with law enforcement to resolve it. We are still gathering the facts, and will share more directly as we have them.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe.
We are still on track towards the expected timeline to resume the withdrawal service in 45 hours. Deposits remain unaffected.
The outflows ceased when we paused withdrawal service earlier. We are still working with partners to freeze many of the impacted assets, and have frozen around $3 billion thus far.
We will continue to provide further updates through official Binance channels as more verified information becomes available.
Binance Hack could be the bottom.
Most of these people have a script, because someone somewhere benefits.
Better times to come eventually.
Crypto Ronins ⚡ retweeted
The Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto.
First, Tether froze $1.5 billion in USDT.
Then Circle froze another $800 million in USDC.
At that point, it looked like the hacker’s money was trapped.
But apparently, he had already planned for that.
Instead of holding the stolen USDT in a wallet, he allegedly deposited it into Aave and used it as collateral to borrow ETH.
Then he walked away.
That’s where the story gets crazy.
Tether can freeze the USDT sitting in the wallet.
But it can’t freeze the ETH he already borrowed.
So now Aave is left holding frozen collateral, while the hacker is sitting on liquid ETH.
And unless the protocol can recover it somehow, he may not even need to pay the loan back.
Two companies froze billions of dollars in seconds.
But someone who understood how to use DeFi may have found a way around both of them.
Pretty insane when you think about it.
Readers added context they thought people might want to know
The described Aave deposit used only ~60M USDT as collateral to borrow 19,762 WETH before freezes hit the main wallet, not the bulk of funds; Aave states the overcollateralized position is subject to normal liquidation with no material protocol risk.
governance.aave.com/t/binance-hot-…
x.com/binance/status…
drk.vc/news/binance-1…
Crypto Ronins ⚡ retweeted
Why is it always Binance? Why is it always Binance that fucks up everything in #crypto ? Last year, they were responsible for 10/10, the largest crash in crypto history. Now, this year, they are responsible for the largest hack in crypto history. This exchange and all its mafia need to be inspected, and some of its people really need to go back to jail.
They are way too suspicious to me.
I hope no one lost funds. Stay safe.
📉 Ethereum ETF withdrawals continued, but the details matter. 👀
US spot Ethereum ETFs recorded $21.41 million in net outflows on October 28, their third consecutive session of withdrawals.
BlackRock’s ETHA drove the outflows, while three other funds attracted fresh capital. Selling pressure eased from the previous session, so this wasn’t a uniform retreat.
Watch whether that improvement continues. One headline rarely tells the whole story. 🔎
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#Ethereum #ETH #EthereumETF #Crypto #RoninsIntelligence
Crypto Ronins ⚡ retweeted
Why $QUBIC is a completely underrated layer 1. I bought more 💲💲💲
🔵🔵Watch my video⤵️⤵️🔵🔵
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youtu.be/Rt5q5_Jc5kM?si=g5Tw…
🚨 Wallet authenticity, frozen withdrawals and a dividend shakeup. Three developments worth watching. 👀
🔐 Keystone disclosed that attackers stole its device authentication key, potentially allowing counterfeit wallets to pass authenticity checks.
🏦 Datavault AI says it cannot withdraw Bitcoin held at Biconomy and will restate financial results. A serious reminder that an account balance doesn’t guarantee access to your assets.
💵 Strategy shareholders approved daily dividend changes for preferred shares including STRC. The change concerns payment frequency, not an increase in total payouts.
Custody and product details matter just as much as the headline. 🔎
👇 Explore Ronins Intelligence with a 7 day free trial. Click the link below.
whop.com/cryptoronins/ronins…
#Bitcoin #CryptoSecurity #Keystone #Strategy #STRC #RoninsIntelligence
$TWIG $GITLAWB
Crypto Ronins ⚡ retweeted
Twigpine eco keeps smashing! we just built a great product for the trenches
launch is open and free
Crypto Ronins ⚡ retweeted
Tomorrow, the most important meeting of the week will take place. The FED will decide if they’ll raise interest rates or if they’ll maintain them.
I think it’s already priced in. Yes, there will be volatility, as there always is, but this changes absolutely nothing about the plan. I’m bullish on #crypto and #altcoins for 2027.
As long as prices stay low, whoever can accumulate should accumulate.
Stop making the same mistake all the time, buying green and selling red. Try something different this time 😉.
🚨 Ripple expands into banking while Electrum users face a security reminder. 👀
🏦 Ripple says it received final OCC approval for its national trust bank, strengthening federal oversight around RLUSD.
🤝 Its Robinhood partnership spans stablecoins, prime brokerage and treasury services.
🔐 Electrum disclosed an already exploited flaw that disguised fraudulent payments as transaction fee increases. Users should update to version 4.8.3 or later through the official website.
Adoption matters. So does protecting your funds.
👇 Explore Ronins Intelligence with a 7 day free trial. Click the link below.
whop.com/cryptoronins/ronins…
#Ripple #XRP #RLUSD #CryptoSecurity #RoninsIntelligence
