Binance was hacked for about $6.36 billion, described as the largest crypto theft on record. Starting at 20:05 UTC on Thursday 29 October 2026, funds left its hot wallets across ten blockchains, most of them within about 20 minutes. The attackers prepared for at least 36 hours, withdrawing small amounts via Tornado Cash, then at 20:20 UTC pushed through 50 pre-signed withdrawal approvals, moving 167,464 ETH and 63 other assets, including 1.6 billion USDT. Binance first said a DevOps engineer's laptop was compromised, and co-CEO Richard Teng called it a “complex attack”; on Saturday 31 October, the FBI said North Korea was behind it, naming TraderTraitor, the unit it blamed for the $1.5 billion Bybit hack in February 2025. By 00:30 UTC on Friday, about $2.7 billion had been frozen.
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BinancecryptocybersecurityNorth Korea
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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $92.9B |
| Close on 11/01/2026 | 712.69 |
| Change that session | +1.24% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: medium
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 11/01/2026 | 78,354.00 |
| Change that session | +1.00% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- North Korea's Bitcoin heist is worth 3x its exports and more than Tesla holds
The Bitcoin stolen from Binance is now worth more than Tesla's entire treasury holdings. The amount also dwarfs North Korea's annual trade.
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According to Elliptic, North Korean hackers spread the $6.43 billion stolen from Binance across about 12,000 wallets on 11 blockchains in under four days, with more than 40,000 transactions. Thanks to fast freezes by Tether and Circle, about 44% of the funds, or $2.85 billion, has been frozen or seized, compared with roughly 3% after the $1.5 billion Bybit hack in February 2025, though about $786 million in stablecoins still got away. About $3.24 billion remains in linked addresses, and Elliptic expects the funds to be cashed out over months through over-the-counter brokers. The FBI has attributed the attack to TraderTraitor, a North Korean state-linked hacking group.
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The FBI said North Korea's TraderTraitor was behind the theft of more than $6 billion from Binance and published hundreds of linked addresses. Binance began restoring withdrawals on Sunday, processing $4.649 billion in withdrawals and $1.01 billion in deposits in the first nine and a half hours, a net outflow of about $3.64 billion, or 2.1% of the $171 billion in assets reported in its latest proof of reserves. The FBI said the hackers mainly converted stolen assets into Ethereum and were expected to launder funds through DeFi and instant swap services, urging businesses to block transactions tied to hundreds of Ethereum addresses, 19 Bitcoin addresses and one Solana address. Chainalysis said more than $500 million had moved through Tron, while CEO Richard Teng said Binance had replenished about 95% of affected assets and would absorb the financial impact. According to Reuters, Circle has frozen more than $1.1 billion in USDC.
- Binance sees $3.64 billion in net outflows as withdrawals resume after massive hack
Binance reported $3.64 billion in net outflows after reopening withdrawals on Sunday, as customers rushed to move funds following a $6.3 billion hack. Between 6 a.m. and 3:30 p.m. UTC, the exchange processed $4.65 billion in withdrawals and $1.01 billion in deposits. The net outflows equaled 2.1% of its $171 billion in total assets, based on its latest proof-of-reserves data. Most of the outflows happened in the first couple of hours, and withdrawal volumes have since stabilized, with services restored in phases across 15 networks while testing continues for the rest. The FBI attributed the hack to North Korean hackers known as TraderTraitor, and Binance said it had covered about 95% of the lost funds and would absorb the losses rather than pass them on to users.
- Binance net outflows surge to $5.8B as withdrawals resume after record hack
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