Binance confirms hot wallets were drained Oct 29 of around $6.3B, with about $3B frozen on chain so far, which would make it the largest crypto theft on record.

Binance confirms hot wallets were drained Oct 29 of around $6.3B, with about $3B frozen on chain so far, which would make it the largest crypto theft on record.

The North Korea link comes from investigators, not Binance: TRM Labs attributes it to TraderTraitor with high confidence, Chainalysis calls it likely, and ZachXBT traced Binance loot and the earlier $388M Bitget loot through THORChain to the same Ethereum wallet 0x1510…e0feb7, per ftosol and MetaFinancialAI. Binance itself has not confirmed attribution and says tracing continues, per Binance.

On speed and spread, trackers describe about $6.36B across 10 blockchains mostly in about 20 minutes, with roughly $1.4B-1.48B in bitcoin split into wallets no issuer can freeze, per IntCyberDigest and timeline posts.

Binance says the entry was a compromised DevOps laptop reaching a service container to submit withdrawals, later adding multiple breach points, with no private key leak found. It says user funds are safe, all losses covered from SAFU and company funds with over $6.34B reserved, and withdrawals back in about 45 hours, per Binance.