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ERC-8415 and the Binance heist: what can be frozen, and why RWAs need an asset-state layer

Following the 29 October attack, Binance reported approximately $6.3 billion in losses and around $3 billion frozen on-chain . On 31 October, the FBI attributed the attack to North Korea’s TraderTraitor activity . Stablecoin issuers could immobilise funds through controls in their token contracts.

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Stablecoin
A token designed to track a reference value, usually the US dollar, through reserves, crypto collateral or an algorithm.

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MichaelYip, Ethereum Magicians

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