News linked to this event type.
community users noticed Kraken experienced a period earlier where trading or withdrawals were unavailable.Kraken officially posted at 10:42 announcing: "We are investigating an issue affecting spot and derivatives clients connecting to the platform and submitting orders through all web, mobile applications, and REST and WebSocket connections. We are working to resolve the issue and will provide updates as more information becomes available."At 11:42, Kraken posted another update on progress, stating the issue had been resolved.OneKey founder Yishi commented on the matter: "Looks like Kraken had an issue just now too. Trading and withdrawals were unavailable, and the entire exchange went into 'post-only' mode. It's recovered now, but it really gave me a scare. Right now, attacking is far easier than defending. We must devote all our efforts to security. Full 'fortress mode' engaged."
Bitcoin News posted on X that Kraken says users are experiencing issues connecting to the platform and submitting orders via web, mobile, and API services. After the Aave market was paused, an analyst cited Kraken's reportedly over $130 million exposure and speculated that it may face liquidity pressure. No liquidity crisis has been confirmed so far.
According to Lookonchain monitoring, whales are still buying BTC despite the market downturn. Over the past 4 hours, 9 newly created wallets received 1,900 BTC worth $148 million from Galaxy Digital.
Du Jun posted on X: "Family offices that I persuaded years ago to allocate BTC and ETH, after experiencing centralized exchange hacks and cold wallet supply chain security incidents, have one after another swapped their BTC for IBIT, and some simply sold their coins to buy physical gold and other traditional assets. I don't even know how to advise them anymore—it seems there's no solution."
Odaily reports: According to on-chain analyst Aunt Ai's monitoring, the Kanye-associated address (0xdea6...1d5c) began selling 1,390 ETH in batches six hours ago (after news of the Binance hack was disclosed), at an average price of $2,275.6, with a sale value of $3.163 million and a loss of $317,000; it is currently still staking 19,506.17 ETH and has borrowed $27.67 million in stablecoins, with a health score of 1.31. A drop in ETH to $1,689.59 will trigger liquidation.
Odaily reports: According to on-chain analyst The Data Nerd, the Binance hacker has sold altcoins worth approximately $158.25 million and converted all proceeds into 70,480 ETH.The specific sell-offs include: 7.02 million UNI (approximately $39.63 million), 217.5 million ENA (approximately $33.93 million), 7.77 trillion PEPE (approximately $31.66 million), 2.57 million LINK (approximately $26.05 million), 127,953 AAVE (approximately $14.27 million), 21.85 million ONDO (approximately $6.62 million), and 17.32 million WLD (approximately $6.09 million).Currently, all of the aforementioned altcoins held by the relevant address have been fully liquidated.
Binance stated that preliminary investigations show the security incident may have been caused by a compromised computer belonging to a DevOps engineer, through which attackers submitted unauthorized withdrawals via service containers; the incident affected approximately $6.3 billion, with about $3 billion already frozen on-chain, and losses are covered by the SAFU fund and company funds.
Odaily Report: Binance has issued a security incident progress announcement stating that the preliminary investigation indicates the incident may have originated from the compromise of a DevOps engineer's laptop, through which attackers gained access to service containers and submitted unauthorized withdrawal transactions. No evidence of wallet private key leakage has been found so far, and a complete technical investigation report will be published after the investigation concludes.Binance stated that the incident is expected to cause losses of approximately $6.3 billion. The platform has already collaborated with blockchain partners to freeze approximately $3 billion in affected assets on-chain. The platform will cover all losses through the SAFU fund and the company's own capital, and will update its Proof of Reserves (PoR) after security remediation is completed.As an emergency response measure, Binance has temporarily suspended deposits and withdrawals, revoked authorizations for affected addresses, and is working with law enforcement agencies and blockchain intelligence partners to track and recover the stolen funds. Binance emphasized that user funds are safe, and the related investigation and recovery efforts are still ongoing.
Odaily reports: Jiang Zhuoer, founder of Litecoin Pool, posted on X platform that Binance's potential loss accounts for a limited proportion of user assets and is not expected to trigger a large-scale wave of withdrawals.He compared this situation with the Bybit theft incident in February 2025: Bybit was hacked for approximately $1.46 billion at the time, accounting for 9.01% of its approximately $16.2 billion in user assets; if Binance's gross outflow this time is $5.64 billion, of which $3 billion has been frozen, the net amount after deduction would be approximately $2.64 billion, accounting for 1.6% of its approximately $165.12 billion in user assets.In addition, the gross outflow may also include internal fund transfers by the platform and normal user withdrawals, and cannot all be regarded as stolen funds. Binance is capable of bearing the relevant losses.
According to Onchain Lens monitoring, a whale opened Bitcoin and ETH short positions after 3 months of inactivity, shorting 620.71 BTC (approximately $47.77 million) and 22,050 ETH (approximately $48.56 million) with 40x and 25x leverage respectively. The whale currently has an unrealized profit of $2.75 million, a profit of $2.69 million over the past 30 days, and a cumulative profit of $1.16 million.
During Friday's Asian session, the rally in US Treasuries accelerated as American tech stocks were sold off and investors turned to US government bonds for safety. Yields across all tenors of US Treasuries fell by at least 3 basis points, extending the downward trend from the New York session. Bonds in Australia, Japan, and New Zealand followed suit, with their respective benchmark 10-year government bond yields falling more than 5 basis points. Safe-haven sentiment heated up following disappointing earnings from tech giants like Alphabet, further fueling market skepticism regarding the sustainability of the AI trade. In October, yields on the benchmark 10-year US Treasury have fallen nearly 40 basis points, poised to record a first monthly decline since February.
Odaily reports: Crypto KOL Seven research posted that "right now, the vast majority of market makers and quantitative firms in the crypto market keep the bulk of their capital and main margin accounts on Binance. Many institutions engage in cross-exchange arbitrage or hedging, and Binance's suspension of withdrawals could cause their funding chains to seize up on the spot—if market volatility continues to intensify, they would be unable to withdraw funds from Binance to top up margin elsewhere. To avoid liquidation, they would be forced to close positions on other exchanges and on-chain, forcibly pulling cash back. This is also why, even though the assets stolen were Ethereum-ecosystem assets, Solana and a bunch of altcoins ended up crashing along with it today."
Odaily reports: According to Onchain Lens monitoring, the Binance hacker has begun selling STRK; two Hyperliquid traders hold STRK short positions with a combined unrealized profit of $4.46 million, of which one trader has an unrealized profit of $1.61 million and the other trader has an unrealized profit of $2.85 million.
According to official sources, in response to recent security incidents involving Bybit, Bitget, and Binance, OKX founder and CEO Star stated that security should not be an area of commercial competition, but rather a shared responsibility of the entire crypto industry. Over the past decade, major exchanges have made significant progress in private key protection, but potential risks remain in access control and wallet management systems. He emphasized that no system is absolutely secure, and any major security breach at any exchange could undermine trust in the entire industry.Star called on major exchanges in the crypto industry to strengthen cooperation and jointly establish stricter industry security standards and coordinated response mechanisms, including adding verification and security delays for large withdrawals to unknown addresses and smart contract authorization transactions, and implementing key security restrictions at the cryptographic signing layer. Meanwhile, the industry should establish real-time security incident reporting, joint monitoring of suspicious funds, and rapid response mechanisms, and promote collaborative research in areas such as quantum-resistant cryptography and AI-driven security threat defense. He emphasized that no single company can safeguard the future of the crypto industry alone.
Odaily News: According to Lookonchain monitoring, after the Binance attacker completed the sell-off of all 217.5 million ENA (worth approximately $33.93 million), a newly created wallet address (0xedc0) began going long on ENA.The address deposited 2 million USDC into Hyperliquid, then opened a long position of 22.78 million ENA with 3x leverage, with the position value at approximately $4.09 million.
Odaily reports: Binance has stated that it will bear all losses caused by this incident. As a precautionary measure, the platform has temporarily suspended all deposit and withdrawal services so that the team can conduct security checks, freeze related funds, and cooperate with law enforcement investigations.Binance says its team is working around the clock to handle this incident and will publish a full post-mortem report once the investigation is complete. It also reminds users to obtain the latest updates on the incident only through Binance's official channels.
according to Lookonchain monitoring, a whale holding 93,184 ETH in long positions has closed 36,517 ETH, worth $80.56 million, to avoid liquidation. The whale still holds 56,667 ETH in long positions, worth $125 million. The new liquidation prices are $2,122.44 and $2,129.72, with cumulative losses exceeding $38 million.
Odaily reports: An empirical study presented at USENIX Security 2026 shows that among the approximately 3.66 million early EIP-7702 authorization transactions across seven chains, about 63% were associated with malicious contracts; confirmed losses exceed $2.3 million, and 924 malicious contracts were identified. Most attacks use phishing to trick users into signing authorizations that delegate their wallets to sweeper contracts. On-chain analysis shows that in today's anomalous outflow event from Binance hot wallets, attackers exploited EIP-7702 authorizations signed by hot wallets including Binance 14 to delegate accounts to pre-deployed malicious sweeper contracts, then transferred assets in bulk within minutes. Estimates from multiple parties put the scale in the billions of dollars, and Tether, Circle, and others have frozen some stablecoins. This incident aligns with the risks identified in the research: whether through private key leakage or abuse of signing systems, once attackers obtain a legitimate authorization signature, EIP-7702 grants them persistent execution control over the account until the authorization is revoked.
Odaily reports: According to Lookonchain monitoring, after the Binance attack incident, a whale address 0x8add immediately shorted 22,047 ETH (approximately $48.89 million) and 620.7 BTC (approximately $47.89 million) at maximum leverage, with the two short positions totaling approximately $96.78 million in notional value. Currently, the trader's unrealized profit on these positions has reached $2.29 million.
Odaily Report: Derek Chiang, founder of ZeroDev and a developer involved with EIP-7702, posted on X stating that first, to be clear — EIP-7702 itself has no vulnerability. If you are using a wallet that supports EIP-7702 (MetaMask, Uniswap, Ambire, etc.), please do not panic.EIP-7702 is an Account Abstraction improvement proposal that allows externally owned accounts (EOAs) to sign a special message called a "7702 authorization," thereby embedding a smart contract into that account. This enables accounts to achieve powerful functionality, such as transaction batching — combining "authorization" and "transfer" into a single transaction, allowing you to complete a swap on Uniswap with just one click.Unfortunately, the same feature also allows hackers to efficiently transfer all your tokens in a single transaction. In the Binance hack incident, the hacker moved ETH, USDT, and 62 other tokens in one transaction, whereas without EIP-7702, they would have needed to send a separate transaction for each token. In this particular incident, many such transactions would have failed anyway, because Binance was still using the compromised wallet for withdrawals at the time, so all transactions sent by the hacker had to compete with legitimate transactions for Nonce (transaction sequence number). Therefore, using EIP-7702 did help the hacker steal funds as quickly and as extensively as possible.However, for the hacker to use EIP-7702, one of the following conditions must have been met: first, they obtained the private key; second, they tricked Binance into signing a 7702 authorization — the latter is highly unlikely, as it is hard to imagine Binance exposing an endpoint used for signing 7702 authorizations (or worse, signing raw messages that could be repackaged by the hacker for 7702 authorization). But until the official postmortem report is released, this possibility cannot be completely ruled out.Derek Chiang added: "As one of the contributors to account abstraction, I feel somewhat responsible for this hack incident, because while giving accounts more powerful functionality, we have indeed also given hackers stronger capabilities."