Binance Hack: $6.3 Billion Stolen in Largest Crypto Heist

Binance, the world's largest cryptocurrency exchange, suffered the biggest hack in crypto history on 29 October 2026, with an estimated $6.3 billion in digital assets stolen—roughly €5.6 billion. The Binance hack, which analysts say surpasses the 2025 Bybit theft of $1.5 billion, drained funds from ten blockchains in about 20 minutes and sent shockwaves through global markets.

What happened in the Binance hack?

According to Binance's preliminary investigation, hackers initially accessed systems through a compromised engineer's laptop. Later statements described a more complex, multi-point breach exploiting a multi-signature protocol called EIP-7702 against Binance's hot wallet. Blockchain intelligence firm TRM Labs linked the attack to North Korean hackers in the TraderTraitor group, part of the Lazarus Group. One transaction alone exceeded $2.5 billion.

The attack was likely prepared at least 36 hours in advance. Unlike the 2025 Bybit hack, which previously held the record, the Binance breach moved most funds within minutes and still leaves about $2.4 billion outside freezing reach.

Binance hack market impact and crypto price crash

The news triggered sharp declines across digital assets. Bitcoin fell to around $77,500, its lowest point in six weeks, while ether dropped below $2,200, the weakest level in months. Shares of crypto-linked companies also tumbled:

• Bitcoin (BTC): fell about 5% to under $80,000
• Ether (ETH): dropped below $2,200
• Coinbase (COIN): down roughly 12%
• Robinhood (HOOD): also hit by the crypto sell-off

Similar to the crypto market crash 2026 fears, the Binance hack triggered leveraged liquidations and renewed investor anxiety about exchange security.

Frozen assets and recovery efforts

Binance said it halted trading and froze about $3 billion of the stolen assets. The exchange set aside $6.34 billion to cover losses and pledged to reimburse affected users. Co-founder Yi He stated the company will compensate all losses from hacks. Stablecoin issuers also moved quickly: Tether froze more than $1.5 billion in assets, while Circle froze over $800 million in coordination with law enforcement.

CEO Richard Teng said the company is working with the US Secret Service and FBI. We are working around the clock with authorities to trace and recover funds, a spokesperson said. The US Secret Service is tracking the stolen funds across blockchains.

How does the Binance hack affect users and regulation?

Binance has faced regulatory pressure for years. It lacks a license from the Dutch central bank DNB and has not been active in the Netherlands since 2023, after receiving a fine of more than €3 million. Founder Changpeng Zhao resigned as CEO in 2023 and was later convicted in the US, but President Trump granted him a pardon in 2025. The case echoes the Changpeng Zhao resignation and raises fresh questions about whether crypto exchanges can protect customer funds.

FAQ: Binance hack explained

What is the Binance hack of 2026?

It was a cyberattack on 29 October 2026 in which hackers stole an estimated $6.3 billion from Binance, the largest crypto heist ever recorded.

How much was stolen from Binance?

About $6.3 billion in digital assets were affected. Binance froze roughly $3 billion, leaving about $2.4 billion still under hacker control.

Is my money safe on Binance?

Binance says all user funds are safe and that it has set aside $6.34 billion to cover losses, with compensation promised for hack-related losses.

Who was behind the Binance hack?

TRM Labs and Chainalysis linked the attack to North Korean hackers in the TraderTraitor group, part of the Lazarus Group.

How did the Binance hack affect crypto prices?

Bitcoin fell about 5% to under $80,000, ether dropped below $2,200, and Coinbase shares fell roughly 12%.