BREAKING: Binance Hacker Begins Massive Sell-Off of Two Altcoins

Following reports of billions of dollars in suspicious asset outflows from Binance-labeled wallets, selling activity in wallets believed to be under the attacker’s control has come to light. According to shared records, after $UNI, $PEPE tokens were also traded on the decentralized exchange Uniswap.

The screenshot of the $PEPE transaction shows approximately 68.01 billion $PEPE being transferred from an address labeled as a Binance hot wallet to a liquidity pool. The transaction then shows approximately 135.34 WETH being converted to $ETH and sent to the wallet. The value of the received $ETH is shown in the screenshot as approximately $307.7 thousand.

Previously shared $UNI transaction logs showed that exchanges were made in different pools via Uniswap V2, V3, and V4. These included $UNI–$USDT and $UNI–WBTC pools.

The initial asset breakdown showed that the tracked outflows included approximately $53.29 million worth of 7.01 million $UNI and $38.91 million worth of 7.77 trillion $PEPE.

A total of approximately $5.64 billion in assets were outflowd from Binance-labeled wallets across six blockchains. Of this amount, approximately $3.53 billion was recorded on Ethereum, $1.45 billion on Bitcoin, and $627.83 million on the Tron network. Outflows on Arbitrum, Optimism, and Base totaled approximately $38.42 million.

The list, which reportedly covers a total of 70 assets, includes $USDT, BTC, USDC, and $ETH, as well as RLUSD, wBETH, $UNI, XAUt, ENA, $PEPE, LINK, and USD1.

A separate on-chain analysis suggested that a wallet labeled “Binance 14” authorized a smart contract belonging to the attacker via EIP-7702, and that this authorization was ongoing.

The same analysis stated that 200 million $USDT was deposited into the wallet at 00:44 UTC+3 on October 30th, and six blocks later, 200.4 million $USDT, 369.8 $ETH, and approximately 12 different tokens were transferred to another address. It was noted that the $USDT was blocked due to the recipient address being frozen, while the $ETH and other tokens were unaffected by this freeze.

*This is not investment advice.