Early this morning (November 13), on-chain detective ZachXBT made an unexpected discovery of a crypto wallet missing $27 million. What’s noteworthy is that this wallet is linked to Binance Deployer, sparking suspicions of a possible hack at Binance.
Specifically, the wallet address 0xa8…bcE had 27 million USDT drained in a single transaction. Subsequently, the entire sum was rapidly swapped into ETH. The ETH was then further circulated through various protocols like FixedFloat, ChangeNow, before being bridged into Bitcoin via THORChain.
While $27 million is no small amount, it’s not uncommon in the crypto market. A recent example is the Poloniex exchange, owned by Justin Sun, which suffered a hack losing over $125 million without a clear reason.
However, the intriguing aspect here is that this wallet address appears to have connections to the Binance exchange. Just one week prior, this wallet received funds from Binance-tagged wallet addresses 16 and 18, which collectively transferred over 27 million USDT to this address. Additionally, this wallet also received funds from a wallet tagged as Binance Deployer on Etherscan in May 2019.
With the current data, many suspicions are leaning toward whether the wallet, which previously transacted with Binance, encountered an issue leading to a hack, or whether Binance itself is potentially compromised. Currently, there has been no official confirmation from Binance regarding this matter, and all information remains speculative.