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Binance $6.3B Hack Analysis

Publisher
Hacken (Analytics firm)
Original
https://hacken.io/insights/binance-hack
Published
First seen
Last captured
Watched for edits
No

Capture history

Newest first. The raw hash is the SHA-256 of the stored copy exactly as fetched. We keep the copy privately and publish its hash. The text hash is of the text extracted from it, which is what is compared between captures.

Captured (UTC)Fetched viaHTTPRaw sha256Text sha256Text changed
firecrawl-web082002ee17a31d7909edc93a8abcf17f725f315e7108125beec3c2503e0c5919fd6069f8f5749580bbd0a43994ed43357e8a155c53b42b2bdefd5dd8289f4b959675fNo

Changes between captures

No text changes detected between captures of this source.

Claims quoted from this source

ReportedamountStatement 12

The page states that estimates of the loss from the hack range from about $6.3B to $6.43B, making it the largest crypto theft on record.

Estimates of the loss run from about $6.3B to $6.36B and $6.43B , which makes this the largest crypto theft on record.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedfreezeStatement 13

The page reports that between $2.7B and $2.84B was frozen within hours of the attack, mostly stablecoins.

Between $2.7B and $2.84B was frozen within hours , almost all of it stablecoins that issuers such as Tether and Circle can block.

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Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedattributionStatement 15

Three analytics firms linked the attack to North Korean state actors.

Three analytics firms link the attack to North Korean state actors.

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Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedamountStatement 914

Hacken wrote that on the evening of 29 October 2026 an attacker emptied Binance hot wallets on 10 blockchains.

On the evening of 29 October 2026, an attacker emptied Binance hot wallets on 10 blockchains

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Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedamountStatement 16

The page states that the first transfers occurred at 20:05 UTC on the XRP Ledger, where five Binance wallets sent 233 million XRP to a single address.

The first transfers came at 20:05 UTC on the XRP Ledger, where five Binance wallets sent 233 million XRP to a single address.

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Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedamountStatement 17

The page states that at 20:20 UTC, a Bitcoin hot wallet sent out 18,270 BTC.

At 20:20 a Bitcoin hot wallet sent out 18,270 BTC, and a Tron wallet sent more than 600 million USDT right after that.

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Hacken (Analytics firm)
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ReportedamountStatement 18

The page states that at 20:24 UTC, one transaction moved about $2.53B out of a single Ethereum wallet.

Ethereum sits in the middle of this sequence: at 20:24, one transaction moved about $2.53B out of a single wallet.

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Hacken (Analytics firm)
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ReportedfreezeStatement 19

The page states that Tether froze 971.1M USDT at 21:01 UTC, 37 minutes after the Ethereum transaction.

21:01 | Tether freezes 971.1M USDT, 37 minutes after the Ethereum transaction.

Speaker
Tether
Publisher
Hacken (Analytics firm)
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ReportedfreezeStatement 20

The page states that Circle froze 823M USDC at 21:04 UTC.

21:04 | Circle freezes 823M USDC.

Speaker
Circle
Publisher
Hacken (Analytics firm)
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ReportedfreezeStatement 153

Hacken said that another count dates the first freezes at 21:14.

Another count dates the first freezes at 21:14.

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Hacken (Analytics firm)
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ReportedfreezeStatement 154

Hacken's timeline table lists Ripple freezing 40.5M RLUSD at 22:01 UTC, citing TRM.

22:01 | Ripple freezes 40.5M RLUSD.

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Hacken (Analytics firm)
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ReportedfreezeStatement 155

Hacken's timeline table lists World Liberty Financial freezing 27.8M USD1 at 22:10 UTC, citing TRM.

22:10 | World Liberty Financial freezes 27.8M USD1.

Speaker
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Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedamountStatement 156

Hacken's timeline table lists a second wave of transfers from Binance wallets on Avalanche and Polygon at 23:05 UTC.

23:05 | Second wave: Binance wallets on Avalanche and Polygon send funds.

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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedfreezeStatement 21

The page states that Binance stated the verified frozen total was $2.54B at 23:35 UTC.

23:35 | Binance states that the verified frozen total is $2.54B.

Speaker
Binance
Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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Reportedroot causeStatement 25

Binance co-CEO Richard Teng said the attacker did not simply use one engineer's permissions and that it was not a single 'one-click' action.

co-CEO Richard Teng said the attacker "did not simply use one engineer's permissions, and this was not a single 'one-click' action."

Speaker
Richard Teng
Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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ReportedrecoveryStatement 22

The page states that the Arbitrum Security Council moved 8,426 ETH and 74.6M ARB out of the attacker's reach at 00:08 UTC on October 30.

30 Oct, 00:08 | The Arbitrum Security Council moves 8,426 ETH and 74.6M ARB out of the attacker's reach.

Speaker
Arbitrum Security Council
Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedrecoveryStatement 110

Hacken said the chain confirms Binance 14 signed a new authorization at 00:10:35 UTC on 30 October that reset its delegation, 3 hours 46 minutes after the sweep.

at 00:10:35 UTC on 30 October, Binance 14 signed a new authorization that reset its delegation, 3 hours 46 minutes after the sweep.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedrecoveryStatement 14

Binance stated it will cover all losses from its SAFU reserve and company funds, and that user funds are safe.

Binance says it will cover all losses from its SAFU reserve and company funds, and that user funds are safe.

Speaker
Binance
Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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Reportedroot causeStatement 24

Binance's update of 02:23 UTC on October 30 stated that its initial investigation suggests the incident may involve a compromised DevOps engineer's laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions.

Binance's update of 02:23 UTC, Oct 30 , says its initial investigation "suggests that the security incident may involve a compromised DevOps engineer's laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions," and that it has "found no evidence of any wallet private key leak."

Speaker
Binance
Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedattributionStatement 157

Hacken's timeline table lists the first public attribution to TraderTraitor at 04:30 UTC on October 30, citing The Next Web.

04:30 | First public attribution to TraderTraitor.

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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedfreezeStatement 23

The page states that the verified frozen total reached $2.84B, which is 44% of the theft, at 08:00 UTC.

08:00 | Verified frozen total reaches $2.84B, 44% of the theft.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedfreezeStatement 26

Hacken said Ripple and World Liberty Financial froze their tokens inside the compromised wallet, which stopped new deposits of those tokens from being taken.

Ripple and World Liberty Financial froze their tokens inside the compromised wallet, which stopped new deposits of those tokens from being taken.

Speaker
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Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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ReportedattributionStatement 29

The page reports that two analytics firms attribute the theft to TraderTraitor, a North Korean hacking unit, and a third firm calls it likely.

Three analytics firms think so: two attribute the theft to TraderTraitor , a North Korean hacking unit, and the third calls it likely .

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedattributionStatement 30

The page notes that stolen Binance funds were seen mixing in real time with funds from the Bitget theft, which had been attributed to North Korean actors, and that funds from both thefts reached the same Ethereum address as first reported by ZachXBT.

Stolen Binance funds were seen mixing, in real time, with funds from last month's Bitget theft, which had already been attributed to North Korean actors, and one firm calls that its strongest evidence. Funds from both thefts reached the same Ethereum address , as ZachXBT first reported.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedattributionStatement 32

The page states that the overlap with Bitget is small, with about $39,000 of Binance funds at the shared address against about $510,000 from Bitget, and that the thief left most of the stolen USDT unconverted for 37 minutes on Ethereum and 46 on Tron.

The overlap with Bitget is small, about $39,000 of Binance funds at the shared address against about $510,000 from Bitget, and that shows a shared laundering network, not necessarily the same hackers. The thief also left most of the stolen USDT unconverted for 37 minutes on Ethereum and 46 on Tron, where North Korean groups usually move faster.

Speaker
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Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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ReportedattributionStatement 34

Teng said the investigation has not attributed responsibility to any individual, and Binance says it is working with law enforcement to confirm who is behind it.

Binance hasn't named a culprit. Teng said the investigation has not attributed responsibility to any individual, and Binance says it is working with law enforcement to confirm who is behind it.

Speaker
Richard Teng
Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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ReportedfreezeStatement 158

Hacken said stablecoin issuers began freezing 56 minutes after the first transfer, that Tether acted first at 21:01 and Circle three minutes later, and that Binance suspended deposits and withdrawals that night and published a written update at 02:23 UTC.

Stablecoin issuers began freezing funds 56 minutes after the first transfer. Tether acted first, at 21:01, about 37 minutes after the big Ethereum transaction, and Circle followed three minutes later. Binance suspended deposits and withdrawals that night and published a written update at 02:23 UTC, a little over six hours after the first transfer.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedamountStatement 315

Hacken said most of the money left in about 20 minutes, with a smaller second wave on Avalanche and Polygon around 23:05 UTC.

Most of the money left in about 20 minutes, and a smaller second wave hit Avalanche and Polygon around 23:05 UTC.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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Reportedroot causeStatement 316

Hacken said nobody outside Binance knows whether a policy layer was set on the signing system, what it checked, or how the attacker obtained signatures.

Nobody outside Binance knows whether a policy layer was set, what it checked, or how an attacker managed to get signatures out of it.

Speaker
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Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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Reportedroot causeStatement 317

Hacken said that at Binance the delegation stayed in place for 3 hours 46 minutes after the sweep and later deposits were swept again.

At Binance the delegation stayed for 3 hours 46 minutes after the sweep and later deposits were swept again

Speaker
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Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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Reportedroot causeStatement 323

Hacken said Binance's statement that no private key leaked and investigators' view that Binance's signing system signed for the attacker can both be true.

Binance says it found no evidence that a private key leaked, while investigators say Binance's signing system signed for the attacker, and the two statements can both be true.

Speaker
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Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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ReportedotherStatement 324

Hacken recommended that wallet operators cap value and rate per wallet at the signer and hold new destinations for a second approval.

Cap value and rate per wallet at the signer and hold new destinations for a second approval

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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Reportedroot causeStatement 325

Hacken said early signs on Ethereum pointed to phishing of the authorizations, which could explain Ethereum but none of the other chains.

Early signs on Ethereum pointed to phishing of the authorizations, which could explain Ethereum but none of the other chains.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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Reportedroot causeStatement 326

Hacken, quoting investigators, said the most likely explanation is that the attacker gained the ability to make Binance's hot wallet signing system sign transactions of its choosing across chains.

The most likely explanation is that the attacker gained the ability to make Binance's hot wallet signing system sign transactions of its choosing across chains.

Speaker
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Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedattributionStatement 911

Hacken wrote that the root cause is still unpublished, which, it wrote, "that firm" calls "the most diagnostic fact still missing". The passage follows Hacken's link to an Elliptic analysis, which it calls "the most careful reading".

None of this is proof, and the most careful reading explains why. The overlap with Bitget is small, about $39,000 of Binance funds at the shared address against about $510,000 from Bitget, and that shows a shared laundering network, not necessarily the same hackers. The thief also left most of the stolen USDT unconverted for 37 minutes on Ethereum and 46 on Tron, where North Korean groups usually move faster. The laundering through market makers and lending protocols doesn't match the older pattern either, and the root cause is still unpublished, which that firm calls "the most diagnostic fact still missing."

Speaker
Not recorded
Publisher
Hacken (Analytics firm)
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Binance $6.3B Hack Analysis
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ReportedattributionStatement 912

Hacken wrote that no government had confirmed anything, whereas after the Bybit theft the FBI named North Korea within five days.

Finally, no government has confirmed anything, whereas after the Bybit theft the FBI named North Korea within five days .

Speaker
Not recorded
Publisher
Hacken (Analytics firm)
Original
Binance $6.3B Hack Analysis
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sha256 2ee17a31d790
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