BINANCE BLAMED EIP-7702, AN ETHEREUM FEATURE — ITS 18,270 BITCOIN LEFT ON 11 SIGNATURES FROM ONE KEY — NONE MOVED BY BLOCK 973,862

Binance co-CEO Richard Teng posted a transcript explaining the hack at 10:32 AM ET on October 30, 2026. He said the attacker used EIP-7702 “to obtain on-chain execution approval over a hot wallet,” and that “That delegation did not pass through our normal approval controls.” EIP-7702 is an Ethereum rule. Bitcoin has nothing like it.

The bitcoin left another way, and anyone can check how. In block 973,732 on October 29, 11 transactions spent from Binance’s bitcoin hot wallet, bc1qm34l…s3h, and sent 18,270.2 coins to the address that split them into 19 piles. That wallet is the plain single-key kind. Each of the 11 spends carries one signature and one public key, and it is the same key all 11 times. The network took them because that key signed.

Teng named BTC among the impacted tokens and said a company-wide review covers “endpoints, cloud, key management, signing. Everything.” He did not say how a signature from that key was made. At block 973,862, mined at 2:53 PM ET on October 30, all 19 addresses still held the 18,270.2 coins and had sent nothing. Nobody has frozen them, because nobody can.

Binance says withdrawals should restart before a Sunday, November 1 deadline, and that its first Proof of Reserves is targeted for Monday, November 2. A reserve report can show that coins are there. It cannot show who else can sign for them. The chain already holds the one fact Binance has not explained: which key signed, and who held it. At the time of this writing, bitcoin was $77,366.