Binance Lost $6.3 Billion to Its Own Signing Machine

On Thursday evening, 29 October, a Binance hot wallet on Tron sent 612.7 million USDT and 46.4 million TRX to an address the exchange didn't control.

It took less than two minutes. Ethereum followed. So did Bitcoin, Solana, Optimism, and five other chains. By the time Binance paused withdrawals that night, an attacker had moved roughly $6.36 billion out of Binance wallets on ten blockchains, most of it in about 20 minutes, according to TRM Labs.

Nothing in crypto's history comes close. The previous record belonged to Bybit for just over 20 months, and the FBI put that theft at $1.5 billion, a little under a quarter of this one.

"It's the biggest hack in history."

Aravind Srinivasan, head of the systematic OTC business at market maker GSR, quoted by RTÉ

The size of the number isn't what kept me reading, though. This line from Binance did:...

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