Binance founder Changpeng Zhao said user funds appeared to be safe after an estimated $2.5 billion to $3.5 billion left the exchange’s hot wallets on October 29, 2026. The outflows occurred over 40 minutes, between 20:24 and 21:04 UTC, with Ethereum, USDT, USDC and funds sourced through Tornado Cash involved. Binance pledged to cover any losses in full and opened an investigation, with no verified impact on customer funds reported at the time. Tether and Circle froze about $1.8 billion in assets linked to the outflows, while liquidations reached $627.7 million and BNB fell by as much as 6 %.
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