Multi-Billion Binance Hack Hitting Crypto Markets

October 29, 2026

Binance is investigating a potential hack after more than $2 billion in crypto was drained from one of its wallets into a new external account, with Blockaid estimating nearly $3.3 billion was moved.

“Our teams are aware of reports of a potential security issue and are actively investigating,” said Binance on X.

“User funds are safe,” said Binance founder CZ. “It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m). I don’t manage Binance anymore, but as a shareholder, I expect all user funds will be fully covered.”