Binance Suspected of Losing at Least $5.57 Billion in Hack Across Three Public Blockchains

TechFlow reports that, citing Decrypt on October 30, on-chain data shows at least $5.57 billion in crypto assets have flowed out of wallets associated with Binance, involving Ethereum, Bitcoin, and Tron. Of this, about $3.51 billion was on Ethereum, 18,270 BTC (about $1.44 billion) on Bitcoin, and about $630 million on Tron.

The report said the first Ethereum transfer occurred at 04:24 Beijing time, sending 167,464 ETH and 1.615 billion USDT, among other assets, to a new address. About 3 minutes earlier, an address funded by Tornado Cash submitted a delegation authorization for the hot wallet via EIP-7702; how the attacker obtained the signature remains unclear.

If confirmed as a hack, the scale would exceed the approximately $1.5 billion Bybit theft in February 2025. Binance said it is investigating, and it has not been confirmed that user funds were affected. The situation is still developing; please be aware of the risks.

Source: TechFlow