Key facts
- The New York Times reported the $6.3 billion hack unfolded over 24 hours in a war room at Binance.
- Coin Signals alleged on X that the incident was a total inside job and that CZ called it a hack to save $6 billion in taxes, offering no evidence.
- Andrew Crypto questioned on X who had access to the wallets and who knew what was about to happen, without evidence.
- Andrew Crypto asked who was shorting the market before the news emerged and suggested profits may have come from the crash.
- Chris Perkins of Franklin Templeton said AI could help identify weaknesses and improve crypto defenses, but attackers have the same tools.
Binance suffered a $6.3 billion crypto hack, an incident the New York Times reported unfolded over a frantic 24 hours inside a war room at the world's biggest crypto exchange. The report did not date the event.
Crypto commentary account Coin Signals alleged on X that the incident was a "total inside job (managed)" and claimed that Binance co-founder Changpeng Zhao, known as CZ, called it a hack to save $6 billion in taxes. Coin Signals provided no supporting evidence, and the allegations remain unverified. The account also alleged the incident buried bullish US perpetual futures news involving Hyperliquid and dragged Aave into the matter through ETH borrowing against stolen USDT.
Crypto influencer Andrew Crypto wrote on X that "something about this Binance hack doesn't sit right with me," questioning how external attackers could move billions and asking who had access to the wallets. He provided no evidence connecting Binance co-founders to the alleged operation. He also asked who was shorting the market before the news emerged and suggested the real money may have been made on the crash, though no evidence of coordinated market manipulation has emerged.
Chris Perkins, head of Franklin Crypto at Franklin Templeton, said in an interview with CNBC's Squawk Box Asia that AI could help identify weaknesses and improve defensive capabilities across the digital asset industry, while acknowledging the same technology is available to attackers. He called for stronger industry standards, international cooperation and government action to hold cybercriminals accountable.