Arbitrum’s Security Council Urgently Transfers ~74.56 Million ARB and 8,425 ETH Linked to the Binance Incident.

Binance co-founder He Yi published a statement thanking the community for their collective support, noting that the platform is currently conducting security scans to ensure the safety of users' funds. He Yi also reposted a post from on-chain monitoring account Specter regarding the progress of frozen stolen assets, which states that approximately $2.8 billion in related stolen assets have been frozen so far, and calls on First Digital to assist in freezing the remaining roughly $3.45 million in FDUSD.

Coinbase CEO Brian Armstrong stated in a post that his team is doing its utmost to support the ongoing situation surrounding the Binance hack, including blocking transfers to the compromised wallets, and has proactively reached out to Binance to offer assistance. Armstrong noted that the crypto industry should collaborate at this juncture, share useful information publicly, prioritize protecting customers regardless of which platform they use, and those capable of assisting should step forward. The crypto industry has always emerged stronger after every difficult period, and this time will be no exception.

According to data from the BIT Stock Platform, the three major U.S. stock index futures continue to decline: Nasdaq futures fell 2%, and S&P 500 futures fell 1%. Amazon and Intel dropped 7.7% and 23% respectively in after-hours trading, as their previously released earnings reports failed to impress investors. Tech stocks followed suit in after-hours and overnight trading, with Nvidia down 2.5%, Micron Technology down 4.4%, and Oracle down 4%.

The whale holding a 93,184 $ETH ($214M) long closed 36,517 $ETH ($80.56M) to avoid liquidation and still holds 56,667 $ETH ($125M). New liquidation prices: $2,122.44 and $2,129.72. The whale has lost over $38M in total.

According to Lookonchain monitoring, crypto personality "Big Brother Ma Ji" Huang Lichang has been liquidated 8 times consecutively over the past six hours, with all his positions cleared, leaving his Hyperliquid account with a balance of just $1.50.

ZeroDev founder and EIP-7702-related developer Derek Chiang stated in a post that EIP-7702 itself has no flaws, and users of wallets supporting the standard—including MetaMask, Uniswap, and Ambire—need not panic. The account abstraction proposal allows external accounts to insert smart contracts after signing an authorization, enabling batch transactions such as one-click authorization and swaps. However, this same functionality lets attackers transfer all tokens in a single transaction. In the Binance hot wallet breach, attackers exploited this to siphon ETH, USDT, and 62 other tokens in one transaction. Without EIP-7702, attackers would have had to initiate separate transactions for each token, potentially competing with the exchange’s normal withdrawals for nonce values, so EIP-7702 enabled attackers to steal funds faster and in larger volumes. Chiang noted that for attackers to use EIP-7702, they either need access to a private key or to trick Binance into signing an EIP-7702 authorization; the latter scenario is unlikely but cannot be ruled out ahead of the official post-mortem. His advice to wallet developers and hot wallet operators: never expose interfaces that request EIP-7702 authorization or sign raw messages to the public, and users should opt for well-known wallets.