Binance suffered a major security breach that triggered suspicious cryptocurrency outflows estimated at roughly $5.9 billion, compared with $5.3 billion in Glassnode’s initial assessment. The transfers included $1.66 billion in USDT, 17,985 BTC worth about $1.45 billion and $767 million in USDC, along with ETH, XRP, SOL and TRX. The exchange’s BNB balance was not touched, and the funds moved sequentially across several blockchains. Tether and Circle froze more than $1.567 billion in USDT and over $800 million in USDC, respectively, bringing the total frozen assets to $2.54 billion, a figure that could still rise. Former CEO Changpeng Zhao acknowledged that the incident appeared to be a hack, promised full reimbursement of customer funds and said about $1 billion remained exposed after the freezes. Bitcoin briefly fell below $79,000, Ethereum dropped below $2,300, XRP lost nearly 7% and BNB fell by roughly 7%; if the highest estimates are confirmed, the attack could exceed the $1.5 billion theft suffered by Bybit in February 2025.
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