Binance founder Changpeng Zhao warned on November 2 that fraudsters were targeting victims of the platform’s record-breaking breach. On October 29, 2026, attackers reportedly drained approximately $6.3 billion from Binance’s hot wallets, affecting ten blockchains. TRM Labs and Chainalysis attributed the attack to TraderTraitor, a group linked to North Korea. Binance suspended withdrawals and then began restoring them in phases, while net outflows reached approximately $3.64 billion. Bitcoin fell to around $76,000 before recovering above $78,000, and Binance set aside $6.34 billion to cover user losses.
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