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No Binance Users Affected in Orion Protocol Hack: CZ

• Binance CEO Changpeng Zhao said that no Binance users or assets were affected by the Orion Protocol (ORN) $3 million hack.
• 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.

Binance User Protection

Binance CEO, Changpeng Zhao, said that no Binance users or assets were affected by the Orion Protocol (ORN) $3 million hack. He further said that the Binance security team monitors the hackers’ addresses.

Orion Protocol Hack

The incident momentarily crippled operations at Orion Protocol as the hacker drained crypto worth a couple of million dollars. The 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.

PeckShield Report

Peckshiled announced that they paused the protocol by the announcement time. They assured Orion users that the security team had positively identified the root cause and was fixing the bug.

Surge DeFi Response

The tweet attracted response from Surge DeFi, sympathizing with those who incurred losses in the incident and reinstating their commitment to promoting decentralized finance (DeFi) to avoid such incidents in future. DeFi aims to increase safety of crypto investors by investing in less centralized protocols.

Hypernative Comment

CEO of cybersecurity company Hypernative, Gal Sagie, said that the hacker deployed an adding Attack Wagon (ATK) code to exploit vulnerabilities in smart contracts within short timespan of two minutes and gained access to user funds in seconds afterwards