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Binance Proposal to add wBETH to Gauge Controller raises Security Concerns

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Binance proposal to add wBETH to the Gauge Controller has been flagged as a potential risk by Supremacy, a crypto expert. According to the WrapTokenV1BSC contract of the BNBChain, there is a feature that can transfer all ETH Reserve, and the owner’s account is a single-signature EOA account, which means that a private key leak or internal mischief could lead to serious consequences.

Supremacy finds potential risks in Binance’s Curve proposal

Supremacy has expressed concerns over the security implications of this proposal, as a breach in the system could lead to a significant loss of funds. However, Binance has reported that the account’s private key is controlled by the finance department and has a certain level of security, which could mitigate the risk.

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