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Ad Your brand here, on every page of InvestIn.NewsHeader Banner, 970 × 90 under the price ticker. One advertiser, fixed monthly price. See ratesBinance said its SAFU fund and company funds will absorb all losses from the hack, and that user funds are safe. It has paused deposits and withdrawals, revoked approvals on affected addresses and contacted law enforcement and blockchain intelligence partners to trace and recover funds.
AltcoinsChainCatcherAIBearish
Tree News flagged a possible theft from a Binance hot wallet, with over 60 tokens moved to an address linked to Tornado Cash. Binance's preliminary investigation points to a compromised DevOps engineer's laptop, with losses of about $6.3bn. The Lagrange Foundation has now frozen LA tokens linked to the incident…
Tree News says signs point to possible theft from a Binance hot wallet, with more than 60 tokens moved to an address previously known to have received funds via Tornado Cash. About $2.77bn moved across five blockchains; whether it was a hack is unconfirmed.
Attackers allegedly used EIP-7702 delegation to point a Binance wallet at malicious code and move funds. How they obtained authorisation is still under investigation, with a stolen private key or a compromised signing flow both unconfirmed possibilities.
Bitcoin News monitoring indicates Binance is still running automatic deposit sweeping that moves new user deposits into the compromised hot wallet, with the attacker said to keep moving funds out as they arrive. Users are advised to avoid depositing until the incident is resolved.
On-chain analysis cited by Bitcoin News indicates attackers used a malicious EIP-7702 approval to control a Binance wallet, and Binance reportedly used a signing key to recover $823m in USDC. The attackers allegedly moved 65 assets, with a $200m USDT deposit transferred out 100 seconds after arriving.
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OdailyAIBearish
Binance is shifting funds from every wallet exposed to hacking risk into cold wallets, after what Solid Intel called the largest hack on record overnight.
X user 0xVEER said developer 0xjustadev warned during EIP-7702 discussions about two years ago that the proposal could enable attackers to control wallets. Whether the Binance incident involved EIP-7702 is unconfirmed by Binance.
EthereumChainCatcherAIBearish
Blockaid co-founder and CEO Ido Ben-Natan says the Binance hack may have abused transaction-signing infrastructure rather than stolen private keys, with 50 EIP-7702 approvals bundled into one transaction. He said the method resembled the 2025 Bybit hack.
SlowMist's Cos says the attacker behind the Binance hack used Ethereum's EIP-7702 mechanism simply to sweep tokens from Binance-linked hot wallets in bulk, after several hours of rehearsal. The mechanism itself is not at fault, Cos said, as other methods exist.
One of the Binance hot wallets allegedly drained in a hack, Binance 14, revoked its EIP-7702 authorisation at 00:10 UTC on 30 Oct, on-chain data shows. The attack allegedly abused the mechanism to hand control of the wallet to a malicious sweeper contract.
EthereumChainCatcherAIBearish
ZeroDev founder Derek Chiang says EIP-7702 itself has no vulnerability, but its transaction batching let the Binance attacker move ETH, USDT and 62 other tokens in one transaction. He says the attacker needed a private key or a signed authorisation.
SlowMist's chief information security officer, 23pds, says how attackers bypassed Binance's risk controls still needs confirming, with a private-key leak or a compromised signing machine the lines to check. 23pds leans towards a private-key leak and says a custom withdrawal tool was probably used.
Binance's preliminary investigation suggests a compromised DevOps engineer's laptop let attackers reach a service container and submit unauthorised withdrawals, with no private key leak found. It estimates losses at about $6.3bn, has frozen roughly $3bn on-chain and will cover losses through its SAFU and corporate funds.
Binance said its SAFU fund and company funds will absorb all losses from the hack, and that user funds are safe. It has paused deposits and withdrawals, revoked approvals on affected addresses and contacted law enforcement and blockchain intelligence partners to trace and recover funds.
AltcoinsChainCatcherAIBearish
The Lagrange Foundation has frozen LA tokens linked to a security incident at Binance as a precaution, Lagrange says, leaving the attacker's LA untransferable. Users holding LA on Binance should watch Binance's official channels for notices.
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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