Wallet‑Signing Compromise Threatens Exchanges

A breach of an exchange's wallet‑signing infrastructure — not merely account credentials — can let attackers authorize multi‑chain drains worth billions, bypassing ordinary user protections. The Binance incident shows such an exploit can be coupled with 'self‑destruct' tooling to hamper tracing, and that only some assets (notably certain stablecoins) are amenable to freezing by issuers. — Exchanges' signing infrastructure is a systemic single‑point-of-failure with regulatory, national‑security and consumer‑protection consequences, reframing debates about custody, on‑chain traceability, and the role of stablecoin issuers as emergency gatekeepers.