Vitalik: Binance would lose billions in a successful 51% attack on ETH

Ethereum (ETH) founder Vitalik Buterin stated that even if a service provider the size of Binance were to successfully launch a 51% attack on the network, it would have to absorb billions of dollars in slashing penalties, according to Wu Blockchain. Explaining how the ETH staking model contributes to network security, Buterin said that in the event of a 51% attack, mechanisms such as a minority soft fork, slashing, and inactivity leaks would immediately burn billions of dollars, inflicting losses on the attacker. He argued that based on monetary value alone, Ethereum currently maintains an almost excessive level of security. Buterin noted that while approximately 30 million ETH is currently staked, a 51% attack is theoretically possible with 10 million ETH but would realistically require 15 million ETH. At a price of around $3,200 per ETH at the time, this would necessitate $48 billion. He added that, in his personal view, security would still be sufficient even if this barrier were lowered to $4.8 billion. Note: This brief has been updated based on Buterin's full interview, following an initial report by Wu Blockchain.