Binance Freezes $3 Billion in Crypto as Suspected Hack Tops $5 Billion
Updated
Updated · BBC.com · Oct 30
Binance Freezes $3 Billion in Crypto as Suspected Hack Tops $5 Billion
3 articles · Updated · BBC.com · Oct 30
Summary
$3 billion in digital assets has been frozen by Binance, which also halted deposits and withdrawals while it investigates a suspected security breach and said it will cover all losses.
Chainalysis estimated more than $5.9 billion was stolen and Glassnode put the figure at $5.3 billion, though Binance has not disclosed a theft total and said the amount frozen could still rise.
Tether and Circle froze another roughly $2.4 billion tied to the incident — about $1.6 billion and more than $800 million respectively — as Binance worked with law enforcement and partners to trace funds.
Bitcoin fell about 5% after the alerts, with Ethereum and Solana also dropping sharply, while Binance.US said its separate U.S. platform was unaffected.
The suspected breach at the world's largest crypto exchange would dwarf the 2025 Bybit theft, previously the record crypto hack, if current estimates hold.