Holy crap, we survived October 11th, but October 30th still happened—Binance was hacked! 1. Latest Summary of Binance Hot Wallet Security Incident On the evening of October 29th, multiple Ethereum hot wallets on Binance experienced abnormal outflows, with a core outflow of approximately $2.8-3.3 billion. This involved a large amount of assets including USDT, USDC, and ETH. The incident is still under investigation, and Binance claims user funds are safe. 2. Scale of Outflows Primarily from Ethereum hot wallets (Binance 14, 16, Hot Wallet 34, etc.): USDT: Approximately 1.615 billion USDC: Approximately 780 million ETH: Approximately 195,000 Also involved were dozens of other tokens such as wBETH, RLUSD, UNI, and ENA. Some cross-chain tracking figures are even higher, but the core issue is on the Ethereum side. 3. Freezing Status Stablecoin issuers reacted quickly: Tether: Frozen over 1.567 billion USDT Circle: Frozen approximately 823 million USDC Ripple: Frozen approximately 200 million related assets World Liberty Fi: Frozen approximately 27 million USD1 A total of approximately $2-2.4 billion in stablecoins has been frozen, significantly reducing actual losses. 4. Cause Analysis On-chain data shows: The attacker prepared funds through Tornado Cash, using EIP-7702 (a feature after the Ethereum Pectra upgrade) to temporarily delegate hot wallets to the attacker's sweeping contract, subsequently sweeping away assets in one go. The essence is the abuse of hot wallet private keys/signature permissions combined with EIP-7702. It is not a traditional contract vulnerability. 5. Current Status Binance Official: An urgent investigation is underway; the impact on end-user funds has not yet been confirmed. Withdrawals are temporarily suspended. User funds have been repeatedly emphasized for security by CZ and He Yi. Significant market volatility and liquidations have occurred.