[Shenyu Recounts Binance Hack; Tether and Other Institutions Freeze Assets] Cobo co-founder Shenyu recounted the Binance hack, pointing out that the attackers conducted two rehearsals beforehand and prepared a list of 64 token transfer methods. At 4:20 AM, the attackers used the private key of a Binance hot wallet to sign, and approximately three minutes later, transferred assets in bulk. Currently, Tether has frozen 1.38 billion USDT, Circle has frozen 823 million USDC, and Ripple has frozen 40.54 million RLUSD and other tokens. Shenyu stated that the core issue points to the signing process, and Binance has not yet released a specific explanation.