So it turns out that the accounts were all phished. What I don't understand is how so many accounts were able to be accessed, I would have thought that almost all accounts were protected by 2fa and this would have stopped the issue?
I think I must be missing something.
Let's wait for Binance to make a formal announcement as how the hack happened. Actually they did the suspend withdrawals right away so that they can investigate further.
Not all accounts has been phished there are reports that most users funds are still intact. And it was really the bot who exploited or probably found vulnerabilities to make a sell and convert everything to bitcoin. I'm sure Binance is doing everything right now and inform their clients about what really happened.
You're right, it's just interesting and fun to speculate while we wait!
Turns out Binance announced that all transactions have been reversed and the only ones to lose funds were the ones who tried to instigate the attack
sucks to be those guys! I hope they lost a lot and binance seizes whatever else they had in their accounts.
