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https://www.cryptopolitan.com/hackers-used-binance-to-crash-crypto-market/ https://www.cryptopolitan.com/hackers-used-binance-to-crash-... - Hackers likely e
by walterbell 1y ago
https://www.cryptopolitan.com/hackers-used-binance-to-crash-crypto-market/ https://www.cryptopolitan.com/hackers-used-binance-to-crash-...
- Hackers likely exploited a Binance collateral loophole in its Unified Account system to trigger mass liquidations on October 11.
- Collateral assets USDE, wBETH, and BnSOL crashed sharply, wiping out traders and market makers as liquidation prices relied on Binance’s spot order book.
- The attack happened between Binance’s oracle update announcement and its implementation, suggesting precise timing and planning.
Binance statement: https://www.binance.com/en/support/announcement/detail/0989d6c7f32545bfb019e3249eaabc3f https://www.binance.com/en/support/announcement/detail/0989d...