Binance Probes Suspected $5.8 Billion Crypto Hack, $3 Billion Frozen
The cryprocurrency exchange Binance is investigating a suspected hack after billions of dollars moved from wallets associated with the exchange on October 29, 2026. Outside investigators have estimated the suspicious transfers at up to $5.8 billion, a figure that would make this the largest cryptocurrency theft publicly reported if confirmed.
The exchange has not confirmed that amount as stolen but confirmed that it was investigating the incident and assured customers that their funds were “completely safe.” Meanwhile, cryptocurrency issuers began freezing assets linked to the suspicious activity.
Billions Moved Before Issuers Froze Assets
Blockchain investigators began examining large transfers involving several networks, with their estimates changing as additional transactions were identified.
Blockchain security company Blockaid said in a tweet it was investigating approximately $3.3 billion in suspicious outflows involving Ethereum, Arbitrum and Avalanche. Coinbase executive Conor Grogan placed the amount as high as $5.8 billion.
Those figures represent assessments made...
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