Amr Taha
đ¨đ¨đ¨ 18,270 BTC and 195,470 ETH Traced as Binance Faces Unprecedented Security Incident
Binance registered $5.539 billion in combined net outflows across four assets on October 29, the deepest negative reading in JulyâOctober chart. USDT accounted for â$2.350 billion, BTC â$1.777 billion, USDC â$999 million and ETH â$413 million. Stablecoins contributed $3.349 billion, or 60.5% of the totalâ$1.159 billion more than BTC and ETH combined. On-chain transactions traced 18,270.2 BTC from a Binance-linked wallet to `bc1q0mtc2f5agpkvlq6hhahmfr3hlr55kyfjhl2mnm`. The receiving wallet later redistributed its entire balance. On Ethereum, two transactions transferred 195,469.85 ETH to `0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c`. The larger transaction also moved 63 ERC-20 tokens, including 1.615 billion USDT. Blockchain investigators identified an EIP-7702 delegation in the Ethereum sweep. Binance estimated the security incident's impact at $6.3 billion, with approximately $3 billion frozen on-chain. Its preliminary investigation pointed to a compromised DevOps engineer's laptop that may have enabled unauthorized withdrawals. The exchange reported no evidence of leaked wallet private keys, and pledged to cover losses through SAFU and corporate funds. The $761 million difference between netflow reading and Binance's incident estimate does not establish additional missing funds: the figures measure different assets, networks and flows.