On-chain analyst Dickson says Binance hot wallets lost about $6.28 billion across 8 chains, and about $2.8 billion has been frozen
On October 30, 2026, on-chain analyst Dickson (@DicksonWuML) posted that Binance hot wallets lost about $6.28 billion across 8 chains today. About $6.07 billion flowed out in the first 55 minutes, and the attacker then continued to resweep one of the Ethereum wallets for about two hours. He said that Tether, Circle, Ripple, Paxos, World Liberty and Binance have frozen about $2.8 billion, and about $3.27 billion remains movable, mainly BTC and ETH.
Dickson listed the distribution across chains (based on 20:24 UTC prices): about $3.74 billion on Ethereum, about 18,270.2 BTC on Bitcoin (about $1.47 billion), about $627.5 million on Tron, about $296.5 million on XRP, about $96.1 million on Solana, about $31.8 million on Arbitrum, about $24.3 million on Avalanche, and about $4.8 million on Optimism.
He said the attacker used EIP-7702 to delegate Binance 14 wallets so that they ran the attacker's contract code. A single sweep() moved about 167,464 ETH and 161.5 million USDT, among others, out of Binance 14, and later USDC and other assets were transferred out of other wallets. He detailed the timeline of the assets being split, sold and frozen, including the freeze times by Tether and Circle.
Binance had previously said that the total amount it has verified as frozen is currently $2.54 billion, and said it will cover all hacker losses. User funds are safe, and deposits and withdrawals are temporarily suspended.
Original source:
Title: Binance hot wallets lost ~$6.28B across 8 chains today. Publisher: Dickson (@DicksonWuML) Publication date: 2026-10-30 URL: https://x.com/DicksonWuML/status/2115960508633301349 Nature of source: original post by on-chain analyst Verification status: relevant content read in this session, verification date 2026-10-29 Supporting content: Dickson said that losses across 8 chains were about $6.28 billion, about $2.8 billion has been frozen, and about $3.27 billion remains movable
ABAB AI Insight
Dickson's analysis expands the loss scale from a single chain to 8 chains and provides specific wallet labels, timestamps, and asset-splitting paths. This analysis is independent on-chain tracing and differs from Binance's officially verified frozen total of $2.54 billion. The official figure is the verified frozen portion, while the analyst's figure is the estimated total outflow and the remaining movable portion.
In terms of capital flow, the stablecoin portion (USDT, USDC, etc.) was quickly frozen through issuer blacklists, while native assets such as BTC, ETH, and SOL depended on subsequent tracing. The attacker used EIP-7702 delegation to enable continuous sweeping until the delegation was revoked or the wallets were emptied. Binance has committed to covering all losses, and the suspension of deposits and withdrawals is a risk-control measure.
Unlike single-source estimates, this analysis provides a multi-chain timeline and a split between frozen and unfrozen assets. The observation metric is whether Binance confirms the total loss size in a post-event analysis, as well as the subsequent movement and freezing progress of the unfrozen assets.
ABAB News · Cognitive Law
An on-chain analyst's estimate of total outflows and an exchange's verified frozen total are different metrics and cannot be directly equated.
Stablecoins can be quickly locked through issuer blacklists, while native assets rely on subsequent tracing and exchange coverage commitments.