Binance Details Four-Month Path From Tainted Developer Install to $6.34 Billion Drain

Binance’s initial report on the Oct. 29 theft says attackers spent four months moving from a tainted developer install to a stolen deployment token and an Ethereum EIP-7702 trick against an MPC hot wallet, ending in a $6.34 billion drain. The exchange detailed the campaign after the incident, which it described as a months-long operation rather than a single exploit. The report ties the loss to compromised deployment credentials and the use of EIP-7702 on the MPC hot wallet. The $6.34 billion figure makes the event one of the largest crypto thefts disclosed by a major exchange. Watchers will focus on Binance’s remediation of developer and deployment access, its MPC wallet controls, and any further disclosure on asset recovery or customer impact.