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An independent record of the October 2026 Binance hack
This line is our short summary of the quote below. The quote is the evidence.
Elliptic has verified $2.85 billion of frozen or seized funds, 44% of the theft, almost all of it USDT and USDC. The attacker is swapping the rest into ETH and other assets that cannot be frozen, and moving funds between blockchains, using automated scripts that run around the clock.
The FBI has previously attributed the Bybit and DMM Bitcoin thefts to TraderTraitor.
The long preparation, the apparent targeting of staff and the use of Binance's own systems to sign transactions resemble earlier TraderTraitor thefts, including Bybit.
Elliptic has identified common service usage between those laundering the Binance funds and those behind three earlier thefts attributed to TraderTraitor, from BigONE, WOO X and AFX.
On October 29, 2026, $6.43 billion in cryptoassets were stolen from Binance, the world's largest cryptoasset exchange, according to Elliptic's analysis.
Elliptic's total excludes a further $169 million that left Binance after withdrawals were suspended.