Two transactions drained around $3.5 billion from Binance’s Ethereum hot wallet on the evening of October 29, including approximately 167,464 ether and around sixty tokens. According to Arkham, the attacker’s addresses may hold up to $5.7 billion across multiple blockchains, which would make it the largest theft in cryptocurrency history. Tether and Circle reportedly froze about $1.8 billion in stablecoins, while Ripple blocked the equivalent of $200 million. Binance has not confirmed the breach, but Changpeng Zhao estimated the loss at between $2.5 billion and $3.5 billion and said users’ funds will be fully covered. BNB fell 6%, bitcoin dropped below $79,000, and $628 million in positions were liquidated within one hour.
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