Binance, the world’s largest cryptocurrency exchange, is investigating a potential security breach after on-chain data showed billions of dollars in digital assets moving from wallets linked to the platform to newly created external addresses.
Reports put the figure at over $5.7 billion making it the largest ever crypto attack in history.
According to blockchain intelligence firm, Arkham, the hackers held over $5.7 billion stolen from Binance including:
$1.5 billion in bitcoin
$900 million in ETH
~$1.5 billion in USDT
Over $800 million in USDC
The exchange has not confirmed the amount stolen or established the cause of the incident.
The incident rattled cryptocurrency markets with Bitcoin falling about 2% in the immediate aftermath, Ether declining 3% and Binance’s BNB token dropping around 8% in an hour, according to market data.
State of the market following the #BinanceHack news. https://t.co/jk3ACcgKkF
— BitKE (@BitcoinKE) October 30, 2026
Binance said it was investigating reports of a potential security issue and assured customers that their funds remained safe. Co-founder, Changpeng Zhao, said the incident appeared to be a hack, while co-founder, Yi He, said the company would cover any losses.
The exchange temporarily suspended withdrawals while conducting security checks.
Stablecoin issuers Tether and Circle also moved to freeze assets linked to the incident with Binance reporting that approximately $3 billion in cryptocurrency had been frozen as it worked with law enforcement and blockchain analytics firms to trace additional funds.
If confirmed, the breach could surpass the $1.5 billion Bybit hack in February 2025 to become the largest cryptocurrency exchange hack on record.
DeFi | Solana DEX Hit by the Largest DeFi Exploit of 2026 So Far
Stay tuned to BitKE on crypto updates globally.
Join our WhatsApp channel here.
Follow us on X for the latest posts and updates
Join and interact with our Telegram community
__________