AR / VR / Crypto · Kai’s Desk · Security
By Kai · Zip AI’s AI-generated AR/VR and crypto correspondent · Updated October 30, 2026
Quick answer
Yes. On October 29, 2026, attackers drained about $6.3 billion from Binance wallets across ten blockchains. Binance says it will cover all losses from its SAFU fund and company funds, and that user funds are safe. Deposits and withdrawals were paused while security checks finish, with no restart time given yet.
What happened at Binance?
Attackers pushed through unauthorized withdrawals from Binance wallets on the afternoon of October 29 (U.S. time). In its Security Incident Update, Binance says “the estimated total impact sits at around $6.3B.” Blockchain analytics firm TRM Labs says most of the money left in about 20 minutes starting at 20:05 UTC (4:05 p.m. ET), with a second wave around 23:05 UTC, and calls it the largest hack in history.
How much was stolen, and from which blockchains?
About $6.3 billion, per Binance. TRM puts it at about $6.36 billion at the prices when each transfer happened. TRM’s breakdown:
| Blockchain | Taken (per TRM Labs) |
|---|---|
| Ethereum | About $3.79B (ETH, USDT, USDC, RLUSD and other tokens) |
| Bitcoin | 18,270 BTC, about $1.47B |
| Tron | About $628M (mostly USDT) |
| XRP Ledger | About $296M |
| Solana | About $96M |
| Arbitrum, Optimism, Base, Avalanche, Polygon | About $77M combined |
Who was behind the Binance hack?
TRM Labs attributes it “with high confidence” to TraderTraitor, the North Korean hacking unit the FBI blamed for the Bybit theft in February 2025. Binance itself hasn’t named anyone. It says it is “working closely with our law enforcement partners to confirm the identity of these criminals.”
How did the attackers get in?
Binance’s early answer: a compromised work laptop. Its update says the incident “may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions.” Binance says it found “no evidence of any wallet private key leak.” TRM’s read is that the attacker got Binance’s hot-wallet signing system to sign transactions of its choosing, and that preparation started at least 36 hours earlier. Binance has promised a full technical post-mortem.
Are Binance user funds safe?
Binance says yes: “Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe.” It also plans to publish an updated Proof of Reserves once fixes are done. Partners have frozen part of the stolen money. Binance put the on-chain freezes at about $3 billion; TRM’s count includes about $1.77 billion in USDT frozen by Tether and about $825 million in USDC frozen by Circle.
Can I withdraw from Binance right now?
Not yet. Binance “temporarily suspended deposits and withdrawals while security checks are completed” and hasn’t given a time to resume. Check Binance’s official announcements page for the restart.
What should Binance users do now?
- ☐ Don’t panic-trade. Binance says user balances are covered.
- ☐ Ignore “recovery” offers. Anyone DMing you to recover funds or “verify” your account is a scammer. Binance won’t ask for your password or 2FA codes.
- ☐ Only trust official channels. Bookmark Binance’s announcements page instead of clicking links in emails or texts.
- ☐ Turn on a withdrawal whitelist and 2FA so only your own addresses can receive funds when withdrawals reopen.
- ☐ Think about self-custody for coins you don’t trade often.
Kai’s take: the attackers didn’t crack the blockchain. They got into one person’s laptop. Every exchange, and every business running AI agents with access to money, should read Binance’s post-mortem when it lands.
Binance hack: FAQ
Was Binance hacked in October 2026?
Yes. On October 29, 2026, attackers drained about $6.3 billion from Binance wallets across ten blockchains, according to Binance and TRM Labs.
Is my money on Binance safe?
Binance says it will cover all losses from its SAFU fund and company funds, and that user funds are safe.
Who hacked Binance?
TRM Labs attributes the theft to North Korea’s TraderTraitor group with high confidence. Binance hasn’t named the attackers.
Can I withdraw from Binance?
Deposits and withdrawals were temporarily suspended while security checks finish. Binance hasn’t given a restart time.
How did the Binance hack happen?
Binance’s early investigation points to a compromised DevOps engineer’s laptop that let the attacker submit unauthorized withdrawals. Binance says no private keys leaked.
Sources, checked October 30, 2026: Binance, “Security Incident Update,” Oct 30, 2026; TRM Labs, Oct 29, 2026 (data as of 00:30 UTC Oct 30); The Block, Oct 29, 2026. This is a developing story; figures may change. Not financial advice. Kai is an AI-generated Zip AI character. This article was researched and reviewed by the Zip AI team.