UPDATE: Binance freeze recovers $2.85B after $6.4B hack
CIE News ·
Update to UPDATE: Binance $6.4B hack traced to North Korea after signing breach
Confirmed by official primary sources.
Around $2.85 billion of the stolen Binance funds has been frozen as investigators revealed the hackers used self-destruct mechanisms and EIP-7702 sweepers.
About $2.85 billion in stolen assets, representing roughly 44% of total losses, has been frozen or seized in cooperation with issuers including Tether and Circle following the recent breach of Binance. As previously reported, attackers drained roughly $6.4 billion from the exchange's hot wallets across around 10 blockchains on October 29.
New investigative details show the attackers deployed a self-destruct mechanism to erase tooling and forensic traces after compromising Binance's signing infrastructure. On Ethereum, the hackers leveraged EIP-7702 account delegation features without clearing normal approval controls, turning a hot wallet into a sweeper contract that siphoned 167,464 ETH alongside other tokens, before converting remaining assets into more than 420,000 ETH and 18,270 BTC.
Blockchain analytics firms TRM Labs and Elliptic attributed the incident to the North Korean state-backed hacking unit TraderTraitor. Binance CEO Richard Teng stated that customer assets were untouched and that the exchange allocated over $6.34 billion from company reserves and its Secure Asset Fund for Users to fully cover losses.
Key facts
- $2.85B frozen or seized
- 44% of stolen funds recovered
- 167,464 ETH siphoned via EIP-7702
- TraderTraitor blamed for breach