Altcoins▼ Bearish● Important

Reports link part of Binance's $6 billion loss to an Ethereum wallet upgrade

TradingGain Newsroom·1h ago·30 Oct 2026, 11:35 UTC

Reports say an attacker used a 2025 Ethereum upgrade, designed to make regular wallets smarter, to help drain part of Binance's $6 billion loss. The attacker reportedly used 50 signatures from a Binance wallet to do it. For traders, the story shows how wallet-level weaknesses can reach major exchanges and weigh on market sentiment.

ETHAt the time of writing, Ethereum traded at $2,239 (-3.7% in 24h).Live price →

Why it matters

The attack reportedly relied on a 2025 Ethereum upgrade meant to make ordinary wallets smarter.
Reports say 50 signatures from Binance's own wallet were used in the attack.
Security incidents at large exchanges can weigh on trader confidence and sentiment.

What to watch next

Watch for an official statement from Binance on the losses and any Ethereum wallet changes that follow.

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This brief is written by TradingGain from public reporting by CoinDesk.Read original ↗

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TradingGain News summarises public reports in our own words and always links to the original source. Market Data stories are generated automatically from public exchange data. Nothing on this page is financial advice; always do your own research and use a stop-loss.