On 29 October, attackers compromised Binance’s signing infrastructure and transferred approximately 223.46 million XRP, 970,500 SOL and 44.2 million OP to addresses they controlled before stealing other assets. Chainalysis estimated the total theft at approximately $6.4 billion. On Ethereum, the attackers used EIP-7702 to grant persistent execution rights to a hot wallet, which Binance’s suspension of withdrawals could not immediately revoke. The exchange also had to stop its deposit-consolidation system from continuing to fund the compromised wallet and developed a specialised revocation procedure while the incident was unfolding. With assistance from stablecoin issuers, law enforcement and blockchain analytics firms, Binance said it had frozen or intercepted approximately $2.85 billion and replenished 98% of the affected holdings by 4 November.
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