Binance Hack: $6B Exit in 20 Mins Revives 2017 Vault Idea

Patrick McCorry noted that his 2017 paper at the Security Protocol Workshop, prompted by the Bitfinex hack, called for exchanges to use smart contract wallets as vaults featuring time-delayed withdrawals. He referenced Loi Luu's observation that the Binance hack allowed $6b to exit hot wallets in roughly 20 minutes, leaving no reaction window and highlighting the need for size-based reactionary controls rather than uniform on-chain speed.