On October 29, an attacker moved about $6.36 billion out of Binance wallets across ten blockchains. Most of it left in about 20 minutes. That's roughly four times the By bit hack of February 2025.
The drain hit big names. One hot wallet alone sent out 167,464 ETH and 63 tokens, including 1.615 billion USDT. Another wallet released 780 million USDC. Funds also left wallets on the XRP Ledger, Arbitrum, Avalanche, Optimism, Base, Bitcoin, Tron and Solana. World Liberty Financial froze the USD1 it could reach. BTC, ETH and BNB all dipped on the news.
Who did it? Chainalysis and TRM both point to North Korea's Trader traitor group. Binance itself says its investigation hasn't attributed responsibility to anyone. Its early findings point to an engineer's laptop, which gave the attacker access to a service container to push unauthorized withdrawals. Some researchers also suspect an Ethereum feature called EIP-7702 was abused, but Binance hasn't confirmed that.
Binance says it will cover all losses and that user funds are safe, while deposits and withdrawals are paused. Numbers are still moving and details are still coming in, so take every figure with a grain of salt for now. I'm keeping my own funds off any single venue until the dust settles.
What's your opinion ?
Not financial advice. DYOR.
#Binance #CryptoNews #USDT #USDC $BTC
$ETH
$BNB
The drain hit big names. One hot wallet alone sent out 167,464 ETH and 63 tokens, including 1.615 billion USDT. Another wallet released 780 million USDC. Funds also left wallets on the XRP Ledger, Arbitrum, Avalanche, Optimism, Base, Bitcoin, Tron and Solana. World Liberty Financial froze the USD1 it could reach. BTC, ETH and BNB all dipped on the news.
Who did it? Chainalysis and TRM both point to North Korea's Trader traitor group. Binance itself says its investigation hasn't attributed responsibility to anyone. Its early findings point to an engineer's laptop, which gave the attacker access to a service container to push unauthorized withdrawals. Some researchers also suspect an Ethereum feature called EIP-7702 was abused, but Binance hasn't confirmed that.
Binance says it will cover all losses and that user funds are safe, while deposits and withdrawals are paused. Numbers are still moving and details are still coming in, so take every figure with a grain of salt for now. I'm keeping my own funds off any single venue until the dust settles.
What's your opinion ?
Not financial advice. DYOR.
#Binance #CryptoNews #USDT #USDC $BTC
$ETH
$BNB
