• Binance CEO Changpeng Zhao reported that no Binance users or assets were affected by the Orion Protocol (ORN) $3 million hack.
• PeckShield identified the hack, developed a full report from their observation, and sent it to Orion Protocol before making a public announcement on Twitter.
• The company assured Orion users that the security team had positively identified the root cause and was fixing the bug.
Orion Protocol Hack Affects No Binance Users
Binance CEO, Changpeng Zhao, said that no Binance users or assets were affected by the Orion Protocol (ORN) $3 million hack. He tweeted that the Orion Protocol (ORN) hack was due to a lack of re-login protection and led to the loss of approximately $3M. However, all Binance users and assets were safe from the hack. He further said that the Binance security team monitors the hackers’ addresses.
PeckShield Reports Security Breach
PeckShield cybersecurity firm identified the hack, developed a full report from their observation, and sent it to Orion Protocol before making a public announcement on Twitter. The hacker launched a reentrancy attack on Orion and withdrew funds from a smart contract severally. Peckshiled announced that they paused the protocol by the announcement time.
Reaction From DeFi Community
Surge DeFi reacted to CZ’s tweet sympathizing with those who incurred losses in this incident and reinstating their commitment to promote decentralized finance (DeFi) protocols in order to avoid such incidents in future.
HyperNative Comments On Hack
Hypernative CEO Gal Sagie commented on how hackers deployed an adding Attack Wagon (ATK) exploit which allowed them access into several smart contracts connected with Orion Protocol’s network without any authentication requirement whatsoever.
CZ Reassures No Losses Incurred By Users
CZ reassures users that no one incurred losses as a result of this incident as he declared via twitter “No Binance user/assets were affected” after monitoring hacker addresses through his security team members at binance exchange platform
