Hacking News
Allora Freezes Stolen ALLO Tokens
Allora has frozen ALLO tokens linked to Binance's security breach and begun returning the affected assets to the exchange. The project confirmed that its network and token contract remain secure, while holders outside Binance were unaffected. The attacker cannot move, sell or use the frozen tokens. Allora's emergency contract safeguard stopped further transfers after identifying the stolen tokens. The project plans to return them to Binance without changing the token's total supply. Binance co-CEO Richard Teng said the incident exposed security weaknesses beyond an initially suspected employee laptop compromise. The attacker reportedly exploited Ethereum's EIP-7702 authorization mechanism to gain execution approval over a hot wallet.