Long position liquidations across the entire crypto market exceeded $1 billion over the past 12 hours.

According to Lookonchain monitoring, crypto personality "Big Brother Ma Ji" Huang Lichang has been liquidated 8 times consecutively over the past six hours, with all his positions cleared, leaving his Hyperliquid account with a balance of just $1.50.

ZeroDev founder and EIP-7702-related developer Derek Chiang stated in a post that EIP-7702 itself has no flaws, and users of wallets supporting the standard—including MetaMask, Uniswap, and Ambire—need not panic. The account abstraction proposal allows external accounts to insert smart contracts after signing an authorization, enabling batch transactions such as one-click authorization and swaps. However, this same functionality lets attackers transfer all tokens in a single transaction. In the Binance hot wallet breach, attackers exploited this to siphon ETH, USDT, and 62 other tokens in one transaction. Without EIP-7702, attackers would have had to initiate separate transactions for each token, potentially competing with the exchange’s normal withdrawals for nonce values, so EIP-7702 enabled attackers to steal funds faster and in larger volumes. Chiang noted that for attackers to use EIP-7702, they either need access to a private key or to trick Binance into signing an EIP-7702 authorization; the latter scenario is unlikely but cannot be ruled out ahead of the official post-mortem. His advice to wallet developers and hot wallet operators: never expose interfaces that request EIP-7702 authorization or sign raw messages to the public, and users should opt for well-known wallets.

According to Bitget's market data, South Korea's KOSPI index has extended its decline to 5%, SK Hynix is down nearly 9%, and Samsung Electronics has fallen more than 5%.

Right after the Binance hack, trader 0x8add went short 22,047 $ETH ($48.89M) and 620.7 $BTC ($47.89M) with max leverage. He's now sitting on $2.29M in unrealized profit.

According to Lookonchain’s monitoring, following the Binance hack incident, trader 0x8add opened a fully leveraged short position on 22,047 ETH (valued at $48.89 million) and 620.7 BTC (valued at $47.89 million), with an unrealized profit of approximately $2.29 million so far.

According to HTX market data, BNB has fallen below the $700 threshold, with its 24-hour decline widening to 7.21%.