Binance suffered a hack with an estimated impact of $6.3 billion, with about $3 billion in assets frozen so far and the exchange pledging to cover all losses. TRM Labs attributed the attack with high confidence to TraderTraitor, a North Korean state-sponsored hacking unit, and Chainalysis also linked it to the same group. TRM Labs estimated about $6.36 billion was moved from Binance wallets across 10 blockchains, mostly within about 20 minutes, after preparations began at least 36 hours earlier. Stablecoins such as USDT and USDC are easier to recover because their issuers can freeze and reissue them, while bitcoin and ether are harder to recover. Fundstrat's Sean Farrell said the attack does not currently appear to pose meaningful solvency risk, given that roughly $3.3 billion remains unfrozen and the roughly $1.2 billion SAFU fund could cover part of the losses.
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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $97.5B |
| Close on 10/29/2026 | 698.46 |
| Change that session | -8.08% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/29/2026 | 77,991.89 |
| Change that session | -4.12% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/29/2026 | 2,253.13 |
| Change that session | -4.52% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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