{"id":695263,"date":"2026-10-29T23:00:00","date_gmt":"2026-10-29T23:00:00","guid":{"rendered":"https:\/\/buglecall.org\/?p=695263"},"modified":"2026-10-29T23:00:00","modified_gmt":"2026-10-29T23:00:00","slug":"binance-investigates-possible-hack-after-billions-transferred-out-tether-and-circle-freeze-stablecoins","status":"publish","type":"post","link":"https:\/\/buglecall.org\/?p=695263","title":{"rendered":"Binance Investigates Possible Hack After Billions Transferred Out; Tether And Circle Freeze Stablecoins"},"content":{"rendered":"

Binance Investigates Possible Hack After Billions Transferred Out; Tether And Circle Freeze Stablecoins<\/span><\/p>\n

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Binance said Thursday it is investigating a “potential security issue” after billions of dollars in crypto left its exchange wallets<\/strong>, and the issuers of the two largest dollar stablecoins say they have frozen well over $1 billion of it. The exchange has not said how much was taken, how, or whether it was a hack.<\/p>\n

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“Our teams are aware of reports of a potential security issue and are actively investigating<\/strong>,” Binance said in a post on X<\/a>. “User funds are completely safe.” FinanceFeeds<\/a>, which reviewed the post’s edit history, reports that Binance changed it twice. The first version said the exchange had “not confirmed any impact to user funds”; at 21:24 UTC that sentence came out, and at 21:29 UTC “User funds are completely safe” went in.<\/p>\n

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Our teams are aware of reports of a potential security issue and are actively investigating. User funds are completely safe.<\/p>\n

Our security teams are reviewing all relevant information with urgency, and we will provide updates through official Binance channels as soon as we have\u2026 pic.twitter.com\/ATR4YdzmHV<\/a><\/p>\n

\u2014 Binance (@binance) October 29, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Binance’s founder was less guarded. Changpeng Zhao<\/a>, who says he no longer manages the exchange, wrote: “It does look like a hack on Binance.”<\/strong> As a shareholder, he said, he expects “all user funds will be fully covered.”<\/p>\n

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User funds are safe!<\/p>\n

It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m).<\/p>\n

I don’t manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered. https:\/\/t.co\/oufpyNChxI<\/a><\/p>\n

\u2014 CZ \ud83d\udd36 BNB (@cz_binance) October 29, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

The freezes came from the stablecoin issuers.\u00a0<\/h2>\n

Tether CEO Paolo Ardoino<\/a> said the company froze more than 1.567 billion USDT “related to a potential Binance exchange hack.” Circle CEO Jeremy Allaire<\/a> said Circle froze more than 800 million USDC “in coordination with law enforcement.” Those are the issuers’ own figures. Zhao thanked Tether for about $971 million and Circle for about $823 million<\/strong>, and Decrypt<\/a> counts 975.1 million USDT and 823 million USDC frozen in the main receiving wallet, about $1.8 billion. The posts do not say which addresses were frozen, so the totals do not reconcile.<\/p>\n

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Tether froze more than 1.567B USDT related to a potential Binance exchange hack. <\/p>\n

Protecting the industry and our partners is our main priority.<\/p>\n

Stay safe everyone.<\/p>\n

\u2014 Paolo Ardoino \ud83e\udd16 (@paoloardoino) October 29, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

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Circle is closely tracking reports of a potential exploit involving Binance. In coordination with law enforcement, we have frozen more than 800M USDC associated with the incident and will continue supporting the investigation.<\/p>\n

\u2014 Jeremy Allaire (@jerallaire) October 29, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Billions?!<\/h2>\n

Nobody has a confirmed loss figure<\/strong>. Decrypt’s on-chain tally is at least $5.57 billion across Ethereum, Bitcoin and Tron<\/strong>: $3.51 billion on Ethereum, $1.44 billion in 18,270 BTC and $630 million on Tron. The Block<\/a> reports that Conor Grogan, a Coinbase senior director, put the total at up to $5.8 billion, while the security firm Blockaid is looking at about $3.3 billion in suspicious outflows from Binance hot wallets on Ethereum, Arbitrum and Avalanche. The tallies come from different trackers and may overlap, and Binance has confirmed none of them.<\/p>\n

Glassnode also suggested over $5 billion worth of crypto assets moved.<\/p>\n

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It looks like Binance was just hacked for around $5.3 billion worth of assets.<\/p>\n

The largest pieces:
$1.66 billion in USDT
17,985 $BTC<\/a>, about $1.45 billion
$767m in USDC<\/p>\n

ETH and dozens of smaller tokens follow. <\/p>\n

The total is still a small part of what Binance holds on-chain. pic.twitter.com\/qaQUybMMlm<\/a><\/p>\n

\u2014 glassnode (@glassnode) October 29, 2026<\/a><\/p><\/blockquote>\n<\/div>\n<\/figure>\n

Decrypt says the first Ethereum transfer, at 20:24 UTC, moved 167,464 ETH and 63 token transfers, including 1.615 billion USDT, to a new address. About three minutes earlier, an address funded through the Tornado Cash mixer had submitted an EIP-7702 delegation for a Binance hot wallet, a mechanism that lets a wallet hand its execution to outside contract code. Decrypt does not establish that as the cause, and how the attacker got the required signature is unknown.<\/strong><\/p>\n

Markets reacted.\u00a0<\/h2>\n

Bitcoin tumbled back below $80,000…<\/p>\n

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Decrypt has BNB down about 7% to roughly $699 and bitcoin below $79,000, and The Block says on-chain data shows Aave froze lending markets to stop the suspected hacker from borrowing, though Aave has issued no statement.<\/p>\n

If confirmed at anything near Decrypt’s figure, it would be more than triple the roughly $1.5 billion Bybit theft of February 2025, the previous record.<\/strong> Binance lost 7,000 BTC, about $40 million at the time, in a 2019 hack. It has promised updates “through official Binance channels.”<\/p>\n<\/article>\n<\/div>\n

Tyler Durden<\/a><\/span>
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Binance Investigates Possible Hack After Billions Transferred Out; Tether And Circle Freeze Stablecoins Binance said Thursday it is investigating a “potential security issue” after billions of dollars in crypto left its exchange wallets, and the issuers of the two largest dollar stablecoins say they have frozen well over $1 billion of it. The exchange has… Continue reading Binance Investigates Possible Hack After Billions Transferred Out; Tether And Circle Freeze Stablecoins<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":[],"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[17,22,13],"tags":[],"class_list":["post-695263","post","type-post","status-publish","format-standard","hentry","category-border-security","category-immigration","category-immigration-reform","entry"],"_links":{"self":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/695263","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=695263"}],"version-history":[{"count":0,"href":"https:\/\/buglecall.org\/index.php?rest_route=\/wp\/v2\/posts\/695263\/revisions"}],"wp:attachment":[{"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=695263"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=695263"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buglecall.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=695263"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}