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Binance Limits AIO Trading to Sell-Only After Multisig Wallet Vulnerability

Binance imposed a sell-only restriction on AIO trading following a security vulnerability in the project's multi-signature wallet to safeguard user funds.

MOVE

Summary

Binance has restricted AIO trading to sell-only after discovering a security vulnerability in the AIO project's multi-signature wallet. The move aims to protect user funds by limiting further risk exposure.

Terms & Concepts
  • Multi-signature wallet (multisig): A crypto wallet requiring multiple private keys to authorize a transaction, enhancing security by distributing control among several signers.
  • Sell-only mode: An exchange restriction allowing users to sell an asset but preventing new buys, typically used during incidents to limit risk.
  • Security vulnerability: A weakness in software or systems that can be exploited, potentially leading to unauthorized access or loss of funds.