--- title: "Ethereum upgrade tied to Binance breach that drained part of $6 billion loss" description: "CoinDesk reported that an attacker used a 2025 Ethereum upgrade designed to make ordinary wallets smarter, armed with 50 signatures from Binance's own…" language: en canonical: "https://whycoinmoves.com/en/events/ethereum-here-s-how-ethereum-upgrade-e060f331587c1d" published: 2026-10-30T11:35:57.000Z updated: 2026-10-30T12:36:01.000Z indexable: true --- # Ethereum upgrade tied to Binance breach that drained part of $6 billion loss CoinDesk reported that an attacker used a 2025 Ethereum upgrade designed to make ordinary wallets smarter, armed with 50 signatures from Binance's own… Attributed sources: [CoinDesk]() ## Key facts CoinDesk reported that an attacker used a 2025 Ethereum upgrade designed to make ordinary wallets smarter, armed with 50 signatures from Binance's own wallet, in an incident tied to part of Binance's $6 billion loss. The report follows earlier coverage of the Binance hack that sent bitcoin and ether lower. Evidence strength: Single source, 1 publisher group(s) (CoinDesk). After site detection, observed returns were 5 minutes: -0.14% (difference from BTC +0.03 pp; Oct 30, 2026, 11:35 → Oct 30, 2026, 11:40, UTC; Gate · USDT); 1 hour: -0.51% (difference from BTC -0.23 pp; Oct 30, 2026, 11:35 → Oct 30, 2026, 12:35, UTC; Gate · USDT) In the preceding 30 days, the 99th percentile of absolute hourly returns was 1.68% (OKX · USDT; cutoff Oct 30, 2026, 11:35, UTC). ## Returns after site detection | Window | Return | BTC | Difference from BTC | Actual sampled interval (UTC) | Source | | --- | --- | --- | --- | --- | --- | | 5 minutes | -0.14% | -0.17% | +0.03 pp | Oct 30, 2026, 11:35 → Oct 30, 2026, 11:40 | Gate · USDT | | 1 hour | -0.51% | -0.28% | -0.23 pp | Oct 30, 2026, 11:35 → Oct 30, 2026, 12:35 | Gate · USDT | ## Historical hourly baseline | Metric | Value | | --- | --- | | Coverage | 100.0% (720/720) | | Median absolute hourly return | 0.20% | | 99th percentile of absolute hourly returns | 1.68% | | BTC beta | 1.22 | | Source / cutoff (UTC) | OKX · USDT / Oct 30, 2026, 11:35 | ## Claims and open questions - CoinDesk reported that on Ethereum the attacker used a 2025 upgrade built to make ordinary wallets smarter, armed with 50 signatures from Binance's own wallet. - CoinDesk framed the attack as an Ethereum upgrade that helped drain part of Binance's $6 billion loss. - Which specific 2025 Ethereum upgrade was involved, and what would an official Binance or Ethereum Foundation statement or on-chain data show about how it was used? - What portion of the $6 billion loss the described transaction accounts for, and what would a Binance filing or incident report confirm? ## Source evidence - [Here’s how an Ethereum upgrade helped drain part of Binance’s $6 billion loss]() — CoinDesk; published Oct 30, 2026, 11:35; received Oct 30, 2026, 11:35 (UTC). ## Recent ETH events and market reactions - [Crypto liquidations reach $1.57 billion as Binance hack pressuures bitcoin and ether]() — Published Oct 30, 2026, 11:09 (UTC) · Single source (1 publisher) · Security · 5m -0.10% / 1h -0.16% - [Binance breach of about $6.3 billion sends bitcoin and ether lower]() — Published Oct 30, 2026, 04:00 (UTC) · Single source (1 publisher) · Security · 5m -0.07% / 1h +0.74% - [CFTC chair says AI agents could challenge rules built around human traders]() — Published Oct 29, 2026, 04:39 (UTC) · Single source (1 publisher) · Regulation · 5m +0.05% / 1h +0.31% / 24h -3.17% - [Bitmine adds 10,452 ETH, reaching 4.95% of Ethereum supply]() — Published Oct 26, 2026, 14:12 (UTC) · Multiple publishers (2 publishers) · Market watch · 5m +0.47% / 1h +0.73% / 24h +0.61% - [Ethereum delays Glamsterdam Hoodi testnet fork over gas security flaws]() — Published Oct 23, 2026, 04:59 (UTC) · Multiple publishers (3 publishers) · Project updates · 5m +0.18% / 1h +0.24% / 24h -0.77% - [Full coin archive]() ## Research for this archive - [Crypto hacks and price impact: Bybit and Cetus case studies]() - [Why is crypto moving? How to check the evidence behind a price explanation]() - [Altcoin beta to Bitcoin: BTC, ETH, SOL and DOGE hourly returns]() - [Will Bitcoin go back up? Every crash since 2011 and its recovery time]() Evidence levels describe source coverage, not the probability that a report is true. Price moves and their timing cannot establish a cause; minute samples show an observed interval and alert thresholds are heuristics. Explanations are model-assisted, with citations and figures checked. Source titles stay in their original language; full articles are not republished. [Methods and limitations]()