A fake HR representative, a fake CEO, and an interview assignment containing malicious code—they embezzled $6.3 billion! Binance's post-incident report is highly recommended that all Web3 developers and projects carefully read from beginning to end. Frankly speaking, a security incident of this magnitude is absolutely catastrophic. But let's look at how Binance handled it afterward: no whitewashing, no shifting blame, no hiding anything. The intrusion path, code details, and operation logs were all laid bare and made public. Honestly, this kind of candor is truly rare among exchanges! Here are a few points that impressed me: • Despite the $6.3 billion theft, Binance fully covered the loss, ensuring users didn't lose a single penny. • Within just three days of the attack (as of October 31st), 98% of the affected tokens were replenished, and the reserve proof page is always accessible. • The timeline is incredibly detailed. From 04:05 to 08:10 on October 30th, it details how the attackers used Ethereum's new EIP-7702 feature, how they bypassed the MPC wallet's revocation logic, and how they modified the local environment using scripts—all of it was documented. • They even admitted to the shameful fact that their internal AI tools were used as a stepping stone, and even commissioned a third-party independent security firm for a second review. Previously, when exchanges experienced incidents, nine out of ten were vague and ambiguous. Binance's willingness to release all the details this time demonstrates a sincere attitude, and the system undoubtedly implemented a higher level of security measures. The latest 24-hour reserve data shows a net inflow of $1.6 billion (as shown in the image below), which is the most direct evidence! Every cloud has a silver lining. This $6.3 billion tuition fee has become a guide to avoiding pitfalls for the entire Web3 industry. Although the cost is high, it's worth studying carefully. 1️⃣ Keep your tools clean. Only install Homebrew and Python environments from official channels, and regularly verify their hash values. Don't download any modified versions from search engines. 2️⃣ Don't run interview assignments on your work computer. Any code sent from external sources, especially so-called test questions in job interviews, must be sandboxed for isolation. Otherwise, you're playing with the company's wallet. 3️⃣ Tighten AI permissions. With increasing internal use of AI, permissions must be minimized to prevent it from becoming a bridge for hackers to penetrate laterally. Overall, Binance's willingness to expose its vulnerabilities to the industry takes courage. Binance certainly stumbled defensively, but I think their sense of responsibility deserves recognition! Hopefully, this lesson will prompt Binance to build a stronger security wall and serve as a wake-up call to the entire Web3 industry. After all, everyone wants their industry to prosper forever! @binancezh @moonkimbinance