
how binance lost $6.3 billion in 20 minutes
·4 min read
picture the safest bank vault ever built. steel doors a metre thick. time locks. guards on every shift. in ten years, nobody has cracked it. one thursday evening, a withdrawal slip arrives at the
picture the safest bank vault ever built. steel doors a metre thick. time locks. guards on every shift. in ten years, nobody has cracked it. one thursday evening, a withdrawal slip arrives at the counter. it's on the bank's own paper. it carries the right stamp. it has already passed the bank's own checks. so the vault opens, and the guard watches the money roll out. nobody broke in. the bank let them in. twenty minutes that's roughly what happened at binance on 29 october. at 20:24 utc, a walle
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