Reserve: All 3.38 billion RSR stolen from Binance have been sold; Reserve protocol and contracts unaffected

TechFlow news, Oct. 30: Reserve officials said the 3.38 billion RSR involved in the Binance hot wallet theft has been sold by the attacker; the Reserve protocol contracts are unaffected, and RSR holders need not take any action. On-chain data shows that between 20:53 and 21:08 ET on Oct. 29, the attacker swapped all RSR for 1,856 ETH via Uniswap V3, worth approximately USD 4.1 million.

Reserve said it had preemptively withdrawn the on-chain liquidity provided by its treasury to prevent the attacker from using it to exit; the related RSR appears to have been bought by arbitrage bots and other traders. Because RSR is non-upgradable and has no admin key, no one can freeze the token. The attacker no longer holds RSR, and Reserve has not identified a large-scale attack risk to DTF governance; all products remain operational.

In addition, based on Binance's statement that the SAFU fund and company funds will cover all losses, Reserve believes Binance intends to repurchase all assets lost in this incident, including the 3.38 billion RSR, but has not yet learned of the specific compensation plan.

Source: TechFlow