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An independent record of the October 2026 Binance hack
This line is our short summary of the quote below. The quote is the evidence.
Binance is investigating a potential multibillion-dollar security breach involving one of its Ethereum wallets, after suspicious transfers prompted stablecoin issuers Tether and Circle to reportedly freeze billions in assets.
Blockchain security firm Blockaid said its team had identified roughly $3.3 billion in suspicious transfers involving Binance-linked wallets across Ethereum, Arbitrum and Avalanche.
Circle CEO Jeremy Allaire said the company had frozen more than $800 million in USDC in coordination with law enforcement and would continue supporting the investigation.
Teng also disclosed that the attacker used a “self-destruct mechanism” to destroy tools and traces during the breach, complicating the investigation.
Binance is aiming to resume withdrawals within 40 hours and publish a full proof-of-reserves report by Monday, co-CEO Richard Teng [said]
The attacker used an EIP-7702 delegation to gain execution authority over a hot wallet, Teng said. That delegation “did not pass through our normal approval controls.”