Binance co-CEO Yi He posted "User funds are SAFU" with a video statement addressing a major security incident on October 29-30, 2026.
The hack stole about $6.3 billion from hot wallets across multiple blockchains in roughly 20-31 minutes, with $3 billion of assets frozen through industry cooperation including stablecoin issuers.
Binance paused withdrawals temporarily, pledged to cover all losses using over $6.3 billion in company funds to maintain 1:1 user asset backing, and plans security audits plus law enforcement pursuit of suspected North Korean hackers. $ETH
#TraderTraitor is a sophisticated, state-sponsored North Korean cyber espionage and hacking group (often classified as a subgroup of the notorious Lazarus Group) that primarily targets blockchain, cryptocurrency, and web3 organizations to fund North Korea's state programs. [1, 2]
The group made massive international headlines following a jaw-dropping $6.3 billion crypto heist targeting Binance, which blockchain intelligence firms like TRM Labs officially tied to TraderTraitor.
Cryptocurrency exchange platform Binance has been accused of being the target of a major cyberattack. According to crypto analytics firm TRM Labs, assets worth 6.3 billion taka have been stolen from the platform. $BNB #Binance