Binance Drained of $5.5 Billion in Suspected Hack, Tether and Circle Freeze $1.8 Billion
Summary
At least $5.57 billion in crypto reportedly moved from Binance-linked hot wallets across Ethereum, Bitcoin and Tron, prompting an urgent investigation by the exchange. Binance said it had not confirmed any impact on customer funds. On Ethereum, a new address received a large transfer shortly after a wallet delegation was installed using EIP-7702; how the required signature was obtained remains unknown. Tether and Circle froze about $1.8 billion in stablecoins tied to a receiving address, while funds were still moving. Bitcoin and BNB prices fell. If confirmed as a hack, the incident would exceed the previous record, the roughly $1.5 billion Bybit theft.
