Approximately $6.3 billion left Binance’s hot wallets on October 29, 2026, in a theft that took 20 to 30 minutes and spanned more than ten blockchains. The FBI, TRM Labs, and Chainalysis attributed the attack to the North Korean group TraderTraitor, which gained insider access through social engineering, including fake job interviews. Binance halted withdrawals and worked with Tether and Circle to freeze roughly $3 billion in compromised funds, then set aside more than $6.34 billion of its own money to cover user losses. Nearly half of the stolen assets were nevertheless moved into tokens without a centralized freezing mechanism, exposing the limitations of tokenized assets after a major incident.
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