On 29 October 2026, attackers drained about $5.3 billion from Binance hot wallets across 10 blockchains in roughly 15 minutes . Binance puts the total impact at $6.3 billion , the largest crypto theft on record. About $2.7 billion has since been frozen or seized. About $2.5 billion escaped, most of it converted to ETH, which nobody can freeze.

I spent the morning after tracing it on Etherscan and through an independent tracker. This post walks through what is visible on-chain: the preparation, the EIP-7702 trick on Ethereum, why the evidence points at Binance's signing infrastructure rather than one leaked key, and how the attacker turned freezable stablecoins into ETH before Tether and Circle could react.

Caveat: figures are estimates as of 30 October 2026, ~04:30 UTC.…