TREE NEWS reports: An address flagged as “Binance Hot Wallet Exploiter 3” deposited about 60 million USDT into Aave V3 and borrowed 19,762 ETH, worth roughly $44.7 million, starting at 04:57 Beijing time on Oct. 30. The borrowed ETH was drawn in two tranches, and a total of 23,314.5 ETH has since been moved to another address tied to the suspected Binance hot wallet theft.
Wallet Linked to Suspected Binance Hack Borrows 19,762 ETH From Aave
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AI take
The significance here is less the size of the borrow than the venue: a wallet already publicly tagged as an exploiter is still able to post collateral and pull liquidity from a major lending market, which puts the spotlight squarely on how permissionless protocols treat flagged addresses. The move of borrowed ETH toward another address tied to the suspected theft suggests the funds are being routed rather than parked, and the USDT-collateral-to-ETH structure is worth noting for those tracking how stablecoin liquidity is being used to source volatile assets. Whether Aave or its risk stewards respond to the flagged wallet, and whether the destination address keeps consolidating, are the open questions.
Generated by AI for reference only.
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