According to ChainCatcher, Binance's $6.3 billion security incident affected assets across 10 blockchains, with cumulative losses reaching that total value. CertiK analyst Jonathan Riss noted that on-chain records show the exchange's hot wallet on Ethereum was repeatedly drained by attackers after each new deposit arrived. Riss highlighted that if transfer limits are enforced only by the application initiating signing requests, attackers who compromise that application can bypass these controls; however, limits independently enforced by the signing system itself could restrict unauthorized transfers. Binance previously disclosed that attackers exploited internal wallet signing services to move funds outside its normal withdrawal process.

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