🚨 Suspected Binance Hot Wallet Exploit: What On-Chain Data Shows
Around 20:24 UTC on Oct 29, the “Binance 14” hot wallet sent ~167K $ETH, ~1.6B $USDT and 60+ other tokens to a new address in a single transaction. That was roughly $2.5B.
Minutes later, the same initiator pulled another 780M $USDC from a second Binance hot wallet. Reported total: ~$3.3B.
🔍 Why many analysts suspect an exploit:
• The address that started the transaction was funded via Tornado Cash
• The hot wallet was delegated to an unverified contract through EIP-7702
• Funds were quickly split across several fresh, unlabeled wallets
🧊 Stablecoins appear frozen. On-chain checks show the main receiving address blacklisted by both Tether and Circle. It holds ~$1.8B in USDT + USDC.
⚠️ ~318K ETH (~$700M) sits in other wallets and can’t be frozen.
📉 Market reaction: ~$629M liquidated in one hour, mostly longs. $BTC dipped below $78.5K and $ETH below $2.25K.
❗ Important: Binance has NOT confirmed a hack, and no official statement has been released yet. Routine wallet maintenance hasn’t been fully ruled out.
Stay calm, follow only official Binance channels, and don’t act on rumors. Not financial advice. 🙏
#Binance #CryptoNews #ETH #Security #OnChain
Around 20:24 UTC on Oct 29, the “Binance 14” hot wallet sent ~167K $ETH, ~1.6B $USDT and 60+ other tokens to a new address in a single transaction. That was roughly $2.5B.
Minutes later, the same initiator pulled another 780M $USDC from a second Binance hot wallet. Reported total: ~$3.3B.
🔍 Why many analysts suspect an exploit:
• The address that started the transaction was funded via Tornado Cash
• The hot wallet was delegated to an unverified contract through EIP-7702
• Funds were quickly split across several fresh, unlabeled wallets
🧊 Stablecoins appear frozen. On-chain checks show the main receiving address blacklisted by both Tether and Circle. It holds ~$1.8B in USDT + USDC.
⚠️ ~318K ETH (~$700M) sits in other wallets and can’t be frozen.
📉 Market reaction: ~$629M liquidated in one hour, mostly longs. $BTC dipped below $78.5K and $ETH below $2.25K.
❗ Important: Binance has NOT confirmed a hack, and no official statement has been released yet. Routine wallet maintenance hasn’t been fully ruled out.
Stay calm, follow only official Binance channels, and don’t act on rumors. Not financial advice. 🙏
#Binance #CryptoNews #ETH #Security #OnChain