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An independent record of the October 2026 Binance hack
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Binance wallets on the other nine chains also sent funds to the attacker through ordinary signed transfers, which TRM said points to a compromise of Binance's hot wallet signing infrastructure rather than a flaw in Ethereum itself.
“Early on October 29, the operator deployed a first piece of code for the attack and tested it on two wallets,” TRM says. “Later that day, it rehearsed the final version on a third wallet, then routed the test funds back to itself. Four hours after that rehearsal, the same code was installed on a Binance hot wallet.”
Eleven Binance hot-wallet keys signed transfers to an address created minutes earlier, and one of them signed an EIP-7702 authorization that turned its wallet into standing infrastructure for the attacker.