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FollowingBinance discovered a trap in governance proposals and acted in less than 48 hours to save $1.2 million.
This week, the cryptocurrency exchange not only defended its platform, but also tightened restrictions on 16 sanctioned platforms and connected AI agents to its infrastructure. Three fronts, the same logic: predict damage in advance.
A brief review of
US$1.2 million is protected: Binance discovered that it targeted a DAO (decentralized autonomous organization) treasury before the malicious governance proposal was implemented. The exchange alerted the DAO project and coordinated with other platforms to close recharge channels in less than 48 hours. According to Jimmy Su, chief security officer of Binance, no external security provider noticed anything unusual before the Binance team discovered the threat.
Binance: Timely resolution of $1.2 million governance attack
A DAO is a decentralized organization that runs through the vote of token holders. It is simple in theory, but if the threshold for submitting proposals is too low, loopholes will appear. An attacker knew this well and crafted a malicious proposal to target the treasury of an undisclosed project in an attempt to steal approximately $1.2 million in tokens. The Binance security team was the first to detect the threat and took action in less than 48 hours: the project party was immediately alerted; the recharge channel for the tokens in question was closed on the centralized exchange; the project party voted against the proposal; and the attack was killed before it was implemented. Jimmy Su's team thus identified threats that external providers failed to detect and protected ecosystems outside their own platform. Looking back at other cases, we can see the importance of this action-in July this year, BonkDAO lost US$20 million due to failure to detect it in time;KelpDAO lost US$292 million due to the breach of the cross-chain bridge. Fortunately, it responded quickly and froze some assets.
Binance: The "Police" of the Cryptographic Ecosystem?
DAO security is just part of the puzzle. The same week, Binance tightened restrictions on 16 crypto platforms deemed high-risk, including Shelbit and Aban Tether Exchange, which were cut off on August 7, A7 Nigeria, A7 Africa and PilotFinance on August 13, and HTX, EXMO, Rapira and eight other entities from August 23. The reason is sanctions: In its 21st round of sanctions against Russia, the European Union listed HTX and most such platforms, accusing them of helping to circumvent financial restrictions on Moscow. The U.S. Treasury Department sanctioned Shelbit and Aban Tether for suspected ties to Iran. Binance is not just on the sidelines; it will also block any direct or indirect transactions with these platforms and may freeze relevant wallets.
AI is also under surveillance
Binance has just launched Agent OS, an infrastructure designed to connect AI agents directly to its tools, covering transactions, payments, real-time market data, and wallets dedicated to automated transactions. This is all compatible with Claude Desktop and other proxy environments. The idea behind it is to allow AI agents to monitor markets, respond to signals, and execute transactions within user-set limits-a step towards full automation of crypto finance. But it could also become a new battlefield for unprecedented attacks? Because misconfigured or compromised AI agents can become attack portals faster than distracted humans staring at the screen.
