🔸Binance has been hacked: stolen assets are estimated at $6.3 billion, making this the largest crypto hack in history.

And now the entire crypto market is crashing.

Bitcoin fell below $77,000, losing more than 6% as panic spreads across the market.

Here’s how extensive the damage is:

• $6.3 billion: the latest reported estimate of assets stolen from Binance across multiple blockchains.
• $170 billion: the amount wiped from the crypto market’s total capitalization after the news.
• $1.39 billion: the value of leveraged crypto positions liquidated in just 12 hours.

For comparison, take a look at the largest crypto hacks in history:

• Binance (2026): up to $6.3 billion.
• Bybit (2025): $1.5 billion.
• Coincheck (2018): $534 million.
• Mt. Gox (2014): about $450 million at the time.

At the highest estimate, the Binance hack is more than four times larger than Bybit’s and ten times larger than Ronin’s.

It is also larger than all six other major hacks on the list above combined.

And it happened at one of the world’s largest crypto exchanges.

1. BILLIONS WITHDRAWN FROM MULTIPLE BINANCE WALLETS

On October 29, hackers gained control of several Binance hot wallets and transferred billions of dollars.

• About $3.3–3.5 billion was withdrawn from Ethereum wallets alone.
• Binance 14 lost approximately $2.5 billion in a single transaction.
• This included 167,464 ETH, 1.615 billion USDT, and dozens of other tokens.
• Binance 16 lost another 28,006 ETH along with other assets.
• Hot wallet 34 was also compromised: about $823 million in USDC was affected.
• Additional funds were withdrawn from wallets on Arbitrum, Avalanche, Optimism, Bitcoin, Tron, and other networks.

The hackers did not stop after the initial transfers.

They continued withdrawing funds from the compromised wallets as new deposits came in.

2. HACKERS PREPARED THE ATTACK

The attack began with preparations on October 28–29.

• The hackers funded their operational wallet through Tornado Cash.
• They deployed a malicious contract designed to withdraw assets.
• They tested the attack on individual wallets before targeting Binance.
• At around 20:20 UTC on October 29, the hackers began transferring billions from Binance wallets.

After the theft, they distributed the stolen funds across different addresses, exchanged stablecoins for ETH, and moved assets between blockchains.

3. BINANCE WALLET SECURITY WAS COMPROMISED

The hackers gained access to the private keys or signing permissions for several Binance hot wallets.

After successfully delegating access, they could repeatedly withdraw assets from the wallet.

The exact method used to gain access has not yet been confirmed.

4. ABOUT $3 BILLION IN STOLEN ASSETS FROZEN

• Tether froze more than $1.56 billion in USDT linked to the hack.
• Circle froze approximately $823 million in USDC.
• Ripple reportedly froze another $200 million.
• The Arbitrum Security Council secured approximately $30.5 million.
• Other projects also froze assets linked to the hackers.

The total amount of frozen funds is estimated at around $2.5–3 billion.

However, a significant portion of the ETH, BTC, and other assets remained outside these freezes.

After the hack, Binance temporarily suspended deposits and withdrawals.

The exchange confirmed that it was investigating the security breach and said that all customer funds were safe.

The estimated $6.3 billion theft is equivalent to almost 4.4% of Binance’s $144 billion in assets under custody.

Even the lower estimate of $3.3 billion makes this hack more than twice as large as the Bybit hack.

The final losses are still being calculated, as billions of dollars were frozen.

But the consequences already extend far beyond Binance.

This is one of the most devastating security failures in the history of the crypto industry.#EarningsSeason #BinanceWillListPredictPREDICT