jvn

Chief Architect

[jvn @jeevan_sid]

Fk it , I just helped @elonmusk to add 10 dollars to its networth, he better thank me for it ! , never thought I would buy X premium before a LinkedIn one , ! But here we go !

[jvn @jeevan_sid]

@binji_x @EFDevcon Having a chat with you 😂🌝 !

[jvn @jeevan_sid]

@danielortega @EFDevcon I'm inbetween attending IBW Or aebiverse , Pretty sure it will be arbiverse towards the end !

[Esmaill @czesmaill]

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.

[Mudit Gupta @Mudit__Gupta]

EIP 7702 definitely made the UX much smoother

For the hackers

[Binance @binance]

Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.

The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.

As an immediate precaution, Binance has:

- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.

Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.

Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.

https://t.co/ywB2mKFy0p

[jvn @jeevan_sid]

@peter_szilagyi Scary times ahead !

[jvn @jeevan_sid]

@Gajpower @zeamETH True , Networking makes the effort to build worth it ! , Products gone viral without it like OpenClaw are like 1 in a thousand!

[jvn @jeevan_sid]

@reet_batra I'm doing both ! , straight to home after devcon

[jvn @jeevan_sid]

@thsottiaux Atleast make it official now 🌝!

[jvn @jeevan_sid]

Can anyone hook me up with @EFDevcon tickets !, In dire need of one !

[jvn @jeevan_sid]

@kratika1324 @EFDevcon @ETHIndiaco @ethereumfndn @ETHGlobal Same here , see you there !

[jvn @jeevan_sid]

@abhitejxyz @EFDevcon Looking forward to it ! , will be representing https://t.co/dKW3UXcGej at devcon !

[jvn @jeevan_sid]

@AroraBhavyam Representing https://t.co/dKW3UXcGej as their chief architect there , happy to catch up !

[jvn @jeevan_sid]

@kunalvg I will be representing https://t.co/dKW3UXcGej there , happy to get on a chat !

[jvn @jeevan_sid]

@KumarUt0141795 @CodesHrithik I know one !

[jvn @jeevan_sid]

@Aayush_gupta_ji Let me know if you got one , I'm also facing the same issue!

[jvn @jeevan_sid]

@eth_ay32 Hii I'm looking at one !

[jvn @jeevan_sid]

@dev3pack @EFDevcon @dev3pack_india Is it still available?

[jvn @jeevan_sid]

@tamaybes Outside of us ?

[Dario Amodei @DarioAmodei]

We Must Pace the Frontier: I’ve written a new essay on why the AI industry should slow down, with a three-part plan for doing so.

Anthropic is unilaterally committing to the first of these steps. We’ll provide third-party evaluators with permanent, employee-level access to our systems, so that they can verify adherence to our safety measures, report on incidents, and assess models’ alignment during training.

You can read the full post here: https://t.co/OGyPb7yaYt