ETH falls below the $2200 mark

Binance co-founder He Yi thanked the community for its support and stated that Binance is conducting security scans to ensure the safety of user funds on the platform, while emphasizing User Fund Security (SAFU).

On October 30th, ZeroDev founder Derek Chiang stated that the Binance hot wallet attack was unrelated to the security of the EIP-7702 protocol. EIP-7702 allows external accounts to gain access to smart contract functionality through authorization; attackers need to possess the private key or trick Binance into signing an authorization to exploit this mechanism. Derek Chiang cautioned that wallet and exchange developers should not expose EIP-7702 authorization signing or arbitrary message signing interfaces to third parties.

Binance co-founder He Yi stated that the platform is conducting security scans to ensure the safety of user funds. Currently, approximately $2.8 billion in related assets have been frozen, and he called on First Digital to assist in freezing the remaining approximately $3.45 million in FDUSD.

Over $1.3 billion in leveraged long positions were liquidated in the cryptocurrency market in the past 5 hours. Rumors circulated that Binance was hacked, resulting in a $5.7 billion theft. BTC fell below $77,000, and ETH fell below $2,215. (Watcher.Guru)

Brian Armstrong stated on the X platform that the team is intercepting transfers to compromised wallets and has contacted Binance for assistance. He emphasized that the industry should work together to address the current situation, share useful information publicly, and protect customers.