# Binance Estimates Security Incident Impact at $6.3 Billion

By Simon Yoon

Canonical URL: https://www.tokenpost.com/news/technology/44214
Published: 2026-10-30T03:46:56.000Z
Updated: 2026-10-30T03:46:56.000Z
Section: Technology

> One of 50 EIP-7702 authorizations for Binance 14 matched before transfers of Ether, USDT and dozens of other tokens.

Binance estimated its security incident had a total impact of about $6.3 billion and said about $3 billion had been frozen on-chain, underscoring the scale of the event as the exchange pledged to cover all losses.

In its Oct. 30 update, Binance said it would cover losses through its SAFU fund and company funds. It also said it suspended deposits and withdrawals during security checks and revoked the affected address’s authorization.

An Ethereum transaction at 4:20:59 p.m. ET Oct. 29 carried 50 EIP-7702 authorizations for Binance 14, covering consecutive nonces from 18,914,775 to 18,914,824. One matched; 49 did not. At 4:24:23 p.m. ET, a call to the delegated code transferred 167,464 Ether (ETH), 1.615 billion Tether USD (USDT) and about 60 other tokens from the wallet.

Binance’s preliminary investigation said a compromised DevOps engineer’s laptop may have enabled access to a service container and unauthorized withdrawals. The exchange said it had found no evidence that a wallet private key was leaked.

EIP-7702 lets an externally owned Ethereum account authorize code delegation. An authorization applies when its nonce, a transaction counter, matches the account’s current nonce; the delegation remains until replaced or cleared.