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Smart-contract developer Justin Kalland said the suspected Binance hacker sent 175m USDT to a new wallet, which then received 2 ETH for gas and later used MetaMask's Gas Station service. He said MetaMask should preserve any Web2 logs it can obtain.
EthereumChainCatcherAIBearish
On-chain data showed abnormal outflows from a Binance hot wallet worth more than $2.5bn, and Tether froze $971m in USDT linked to the suspected hack. Aave froze all DAO-run V3 and V4 markets as a precaution; it now says it will monitor the attacker's wallets and unfreeze in stages once funds stop moving.
On-chain data indicates abnormal outflows from a Binance hot wallet to newly created addresses initially funded from Tornado Cash, with the assets involved worth more than $2.5bn.
Market reports and on-chain data point to a suspected large abnormal outflow from a Binance ethereum hot wallet involving more than 60 tokens and about $2.53bn in assets. The claim has not been officially confirmed and is still being verified.
EthereumChainCatcherAIBearish
Tether has frozen $971m in USDT linked to a suspected hack of Binance, according to on-chain reports.
Stablecoins
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Circle has frozen $823m in USDC in connection with a suspected hack at Binance, on-chain reports say.
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CZ said user funds are safe and that the incident looks like a hack targeting Binance, thanking Tether and Circle for quickly freezing about $971m and $823m respectively. He no longer manages Binance.com but, as a shareholder, expects all user funds to be fully covered.
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Tether has frozen more than 1.567bn USDT, Bloomberg reported.
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Arkham says a hacker suspected of stealing billions of dollars in an overnight attack on Binance holds about $5.61bn across 50 wallets, led by about $1.57bn in USDT, $1.45bn in BTC and $879m in ETH. Tether has said it froze more than 1.567bn USDT tied to the hack.
Stablecoins
CoinNessAIBearish
Binance said some users hit crypto withdrawal problems because of a technical error and its team is working to restore the service, adding that user funds are safe. On-chain data suggested outflows of up to $5.6bn after its hot wallet was suspected of being attacked.
Aave said it urgently froze the relevant lending market to block attempts to borrow again using cryptocurrency leaked from Binance as collateral.
Phylax Systems' Odysseus says an address tied to a suspected Binance hot wallet hack deposited about $60m in USDT into Aave and borrowed 19,762 ETH, worth about $44.7m. Etherscan has flagged the address as "Binance Hot Wallet Exploiter 3".
An address tagged "Binance Hot Wallet Exploiter 15" is swapping UNI for ETH via Uniswap. It received about 7.02m UNI, has sold about 4.7m and holds about 2.32m UNI worth roughly $14.9m plus about 12,283.8 ETH worth about $27.9m.
Elon Musk commented on the Binance hack, saying: "Everyday is Zeroday."
Aave says its contracts are unaffected and positions remain overcollateralised, but all DAO-run V3 and V4 markets are frozen as a precaution, halting new deposits and borrowing while withdrawals and repayments continue.
Lookonchain said the suspected Binance hacker is selling PEPE, UNI, LINK and other tokens on-chain for ETH, and still holds large altcoin positions including 217.5m ENA worth $39.5m and 7.58tn PEPE worth $34.4m.
Aave said it is continuing to monitor the situation and will unfreeze all previously frozen DAO-operated markets on V3 and V4 as soon as possible.
Paxos says it froze 1,906.67 PAXG, worth about $7.66m, in a wallet beginning 0x522 believed to belong to a hacker after PAXG was taken in the Binance hack. Paxos says PAXG, PYUSD and USDG reserves are intact, its systems were unaffected and redemptions continue normally.
StablecoinsCoinNessAIBearish
Navi Protocol said the Binance-related incident has not affected it and that user funds are safe, with deposits, withdrawals, borrowing and repayments running normally. The team said it is watching on-chain activity and urged users to check their positions amid possible volatility.
Crypto.com CEO Kris Marszalek says the platform was not affected by the cybersecurity attack on Binance, is operating normally with all funds safe, and is blocking addresses linked to the incident while offering Binance assistance.
Smart-contract developer Justin Kalland said the suspected Binance hacker sent 175m USDT to a new wallet, which then received 2 ETH for gas and later used MetaMask's Gas Station service. He said MetaMask should preserve any Web2 logs it can obtain.
EthereumChainCatcherAIBearish
The Arbitrum Security Council has executed a transaction freezing about $30.5m of funds tied to the Binance exploit.
Cobo co-founder Shenyu said in a video that attackers broadcast a transaction with 50 approval requests at 4:20am Beijing time on 30 Oct and began moving assets about three minutes later across chains including Ethereum and Tron, worth about $5.8bn at then-prices. He said they used the EIP-7702 approval mechanism after rehearsing twice with a test wallet, and Tether has frozen 13...
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On-chain sleuth Specter says Arbitrum has frozen $30.5m worth of ARB and Paxos has frozen $215,700 worth of USDP, bringing total frozen funds to $2.83bn.
Bonk Guy says the Binance hack is unlikely to cause systemic risk, estimating unrecoverable funds at about $3.2bn against annual revenue of roughly $16bn-$17bn, or about two to 2.5 months of income. He says CZ and Yi He have pledged that user funds are safe and all losses will be covered, and warns against panic selling.
Arkham has corrected its labelling, saying address 0x000...0DA0 is a vanity address used by Arbitrum's security council as a multisig or temporary custody address for frozen Kelp DAO assets, not a hacker address.
A community user said the Binance attacker swapped large USDT amounts for ETH on DEXs to dodge Tether freezes, pushing Uniswap ETH prices to $2,560-$2,750 against Aave oracle quotes of $2,250-$2,290. One address sold 12,289 ETH and bought back 12,314, making about $3.47m before gas fees.
Lookonchain says the Binance attacker has sold UNI, ENA, PEPE, LINK, AAVE, ONDO and WLD, converting them into 70,480 ETH worth about $158m at current prices. The UNI sale raised $39.6m and the ENA sale $33.9m.
LlamaRisk said it and Aave Labs had guardians freeze Aave markets after the Binance ethereum hot wallet attack, covering 175 reserve types across 16 networks on Aave V3 and 117 reserves in four Aave V4 spokes. Aave will monitor the attacker's wallets and unfreeze in stages once funds stop moving.
Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.
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