Binance was drained late Oct 29 in what it calls a ~$6.3B incident across ~10 chains, the largest crypto theft reported and about 4x the $1.5B Bybit hack.

Binance was drained late Oct 29 in what it calls a ~$6.3B incident across ~10 chains, the largest crypto theft reported and about 4x the $1.5B Bybit hack.

Binance says entry may have been a compromised DevOps engineer laptop reaching a service container to submit withdrawals, with no private key leak found, later updated to additional breach points (cause, update). Most funds moved in ~20 minutes. TRM Labs attributes it to North Korea TraderTraitor.

Early on-chain tallies put it at $5.57-5.6B: $3.51B on Ethereum, 18,270 BTC (~$1.44-1.45B), $630M on Tron, plus ~$3.4B in stablecoins and ~200k ETH, versus Chainalysis ~$5.9B. That gap is the same incident before Binance raised it to $6.3B.

Frozen so far is ~$3B verified (Binance), including 1.567B+ USDT by Tether and 800M+ USDC by Circle, plus Ripple ~$200M, Arbitrum ~$30.5M and WLFI ~$27M. Unfrozen is ~$3B, mostly 18,270 BTC and ~495k ETH plus TRX and SOL. Frozen means blacklisted in place, not recovered.

Binance says it will cover all losses from SAFU and company funds and user funds are safe. Deposits are normal, withdrawals remain paused for a security revamp expected back in ~45 hours (status). BNB trades about $704, down ~5% in 24h.