😱🚨 Binance Hit by Record $6.3 Billion Hack; $3 Billion Frozen as Withdrawals Stay Paused
Binance says it will cover all losses, but a root-cause analysis and updated Proof of Reserves are still pending. About $6.36B left Binance wallets across ten blockchains on October 29, most of it in roughly 20 minutes, per TRM Labs. About $3B has been frozen, and roughly $3.3B remains unfrozen. TRM and Chainalysis link the attack to North Korea’s TraderTraitor group.
“Customer funds are safe” really means Binance will cover the losses, since hot wallets hold customer assets. The backing is a $1.18B SAFU fund (15,000 $BTC ) plus over $6.34B of company funds that Co-CEO Richard Teng says has been set aside. That claim needs independent verification.
The next test is whether withdrawals reopen smoothly, targeted for Sunday, and whether the full Proof of Reserves due Monday checks out. BNB fell about 8% and Bitcoin slipped under $77K as traders priced in the risk. Beware of fake “refund” messages. Trust only the official app and website.
Do you keep your crypto on exchanges or in self-custody?
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Binance says it will cover all losses, but a root-cause analysis and updated Proof of Reserves are still pending. About $6.36B left Binance wallets across ten blockchains on October 29, most of it in roughly 20 minutes, per TRM Labs. About $3B has been frozen, and roughly $3.3B remains unfrozen. TRM and Chainalysis link the attack to North Korea’s TraderTraitor group.
“Customer funds are safe” really means Binance will cover the losses, since hot wallets hold customer assets. The backing is a $1.18B SAFU fund (15,000 $BTC ) plus over $6.34B of company funds that Co-CEO Richard Teng says has been set aside. That claim needs independent verification.
The next test is whether withdrawals reopen smoothly, targeted for Sunday, and whether the full Proof of Reserves due Monday checks out. BNB fell about 8% and Bitcoin slipped under $77K as traders priced in the risk. Beware of fake “refund” messages. Trust only the official app and website.
Do you keep your crypto on exchanges or in self-custody?
✅️ FOLLOW FOR MORE ✅️
$BTC
$ZEC
