Binance Hack Detailed Report : What Happened, How $6.3 Billion Was Stolen and What’s Next? - Coinpedia
On October 29, 2026, Binance suffered a major security breach involving unauthorized cryptocurrency transfers worth an estimated $6.3 billion, with the exchange covering all losses through its SAFU fund and corporate reserves.
Binance's preliminary investigation points to a potentially compromised DevOps engineer's laptop as the entry point. The exchange has reported no evidence of a wallet private key leak and has committed to covering all losses through its Secure Asset Fund for Users (SAFU) and corporate funds.
Blockchain monitoring systems detected suspicious movements from Binance-linked wallets on October 29, with initial investigations focusing on Ethereum-based transfers before identifying activity across Bitcoin, Tron, Solana, XRP Ledger and other networks.
The incident quickly developed into a major cross-chain investigation, with blockchain intelligence firms and cryptocurrency companies working to identify affected wallets and prevent further movement of assets.
Attack Method
Binance's investigation suggests the attacker may have exploited access to an authorized internal service rather than directly extracting wallet private keys. Independent blockchain security analysis identified the use of Ethereum's EIP-7702 account-delegation mechanism in the attack involving Binance's Ethereum hot wallet.
We have a high degree of confidence that DPRK is responsible for the $6.4 billion hack of Binance.
Affected Assets
The incident involved multiple cryptocurrencies, stablecoins and smaller digital assets across several blockchain networks. Major assets identified in blockchain analysis included Wrapped Beacon ETH (wBETH), Tether Gold (XAUt), Uniswap (UNI), Ethena (ENA), Pepe (PEPE), and several others.
Blockchain investigators traced funds moving across Ethereum, Bitcoin, Tron, Solana, XRP Ledger and several layer-2 networks, with some assets converted through swaps and moved across multiple addresses.
Industry Response
Binance reported that approximately $3 billion in affected assets had been frozen through coordination with blockchain partners, token issuers and other industry participants. Tether (USDT) reported freezing more than $1.567 billion, while Circle (USDC) froze approximately $823 million.
Binance temporarily suspended deposits and withdrawals while conducting security checks, with deposits resuming by October 30 while withdrawals remained paused during a security overhaul of the withdrawal service.
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