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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
10/30/2026

Binance Outflow Estimates Reach $5.8 Billion as Analysts Trace Delegation

What happened: On-chain estimates placed suspicious Binance hot-wallet outflows at up to $5.

Binance Outflow Estimates Reach $5.8 Billion as Analysts Trace Delegation

What happened: On-chain estimates placed suspicious Binance hot-wallet outflows at up to $5.8 billion across roughly 40 minutes, from 20:24 to 21:04 UTC on October 29. The reported breakdown included approximately $3.51 billion on Ethereum, $1.44 billion representing 18,270 BTC on Bitcoin, and $630 million on Tron. Those chain-level figures remain approximate components of an evolving investigation.

Why it matters: Technical reporting identified EIP-7702 delegation in the Ethereum activity: a contract was deployed around 15:59 UTC, and the wallet labeled Binance 14 delegated to attacker-controlled code around 20:20 UTC before a transaction swept 167,464 ETH and 63 tokens. Blockaid's chief executive suggested private-key misuse could be involved, so the observed delegation sequence does not by itself establish the initial point of compromise. Estimates also rose as analysts reconciled transfers across chains, making the $5.8 billion figure an upper reported estimate rather than a finalized accounting of unrecoverable losses.

Sources: The Block; CryptoTicker; Cointelegraph.