Binance 14 Wallet Faces Risk From Pending 2,961 ETH Transfer
Shen Yu said Binance 14’s hot wallet had not revoked an EIP-7702 delegation more than two hours after it was flagged. A 2,961 ETH transfer to the wallet remains pending because its gas fee is low. Shen Yu warned that if the transaction is included when the base fee falls below 4.4 gwei, an attacker could sweep the funds. The comments point to an ongoing security risk involving Binance 14, though the report does not confirm that the transfer has been processed or that the funds have been stolen.
Bearish
The report describes a potential security exposure at Binance 14: a pending 2,961 ETH transfer could become vulnerable if it is included after the Ethereum base fee falls below 4.4 gwei, according to Shen Yu. That creates a near-term risk of loss and may prompt traders to monitor Binance-related wallet flows, ETH transactions, and any official exchange response. Security scares involving major exchanges have previously triggered short-lived selling, withdrawals, and volatility as traders reassess counterparty risk. However, this report does not confirm a successful attack or a completed transfer, so the bearish implication is risk-driven rather than evidence of broader market damage. In the short term, confirmation of a successful sweep could intensify selling pressure and concern about exchange solvency; swift revocation or other protective action could ease it. Over the longer term, the incident could renew scrutiny of wallet permissions and exchange custody practices, but its market impact would likely remain limited unless losses are confirmed or confidence in Binance is materially affected.