Binance hack drained billions through private key ‘misuse’: Blockaid CEO

Blockaid’s Ido Ben-Natan suspects attackers manipulated Binance’s transaction-signing infrastructure, drawing parallels with the Bybit hack.

The suspected multi-billion-dollar Binance hack may have involved attackers manipulating the exchange’s transaction-signing signature, according to Blockaid co-founder and CEO Ido Ben-Natan.

Speaking to Cointelegraph, Ben-Natan said Blockaid’s preliminary assessment pointed to “key misuse,” in which attackers trick or compromise a signing system into authorizing malicious transactions without extracting the underlying private key. 

“It seems to be… a compromise of signing infrastructure. We don’t think a key was leaked,” he said.

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