The hacker behind the Binance hot wallet drain deposited $4 million into three Binance deposit addresses, likely after routing the funds through third-party exchanges. The deposit is only a small portion of an estimated $6.3 billion theft from around ten blockchains on October 29, 2026. The attackers used Bitcoin, Ethereum and the Tornado Cash mixer because these assets are harder to freeze than stablecoins. TRM Labs, Chainalysis and the FBI attributed the attack to the North Korean group TraderTraitor, while stablecoin issuers froze between $2.7 billion and $3 billion and Binance pledged to cover customer losses.
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