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Oct 29, 2026

Binance sets aside $6.34 billion to cover losses from record $6.3 billion hack

Binance announced it has allocated $6.34 billion in company funds to cover user losses from Thursday's security breach, the largest cryptocurrency hack in history. The exchange said $5 billion is already held in the same tokens that were stolen.

Oct 29, 2026·6 sources
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Top claims

  • ▪Binance initially reported that the October 29, 2026 hack involved a compromised DevOps engineer's laptop accessing a service container to submit unauthorized withdrawal transactions, before identifying additional breach points.
  • ▪OKX founder Star Xu called for real-time incident alerts, joint monitoring of suspicious funds, and faster freezes of stolen assets across exchanges.
  • ▪Binance previously stated that platform withdrawals were expected to resume roughly 45 to 48 hours following the October 29, 2026 hack.

Topics

Crypto securityCrypto hacksBinance hot-wallet breachStablecoinsCrypto marketsCrypto exchanges

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