Binance was drained on Oct 29 in about 20 minutes, with Binance now estimating the impact at around $6.3B across hot wallets.

Binance was drained on Oct 29 in about 20 minutes, with Binance now estimating the impact at around $6.3B across hot wallets.

Tether CEO Paolo Ardoino said Tether froze more than 1.567B USDT tied to the incident. Early tallies cited about $971M USDT plus about $823M USDC, or about $1.79B to $1.8B, but Binance later clarified verified frozen at $2.54B, then around $3B, including Circle, Ripple, WLFI and Arbitrum freezes, leaving about $3.3B still movable.

CZ said it looked like a hack on Binance but that user funds were safe and, as a shareholder, he expected them fully covered. Binance says it will cover all losses from SAFU and company funds.

Binance now says investigation found additional breach points beyond a compromised DevOps laptop, with withdrawals expected back in about 45 hours and deposits normal. Attribution to North Korea's TraderTraitor comes from TRM Labs and Chainalysis reporting, not yet a Binance official attribution.