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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.
Binance has said it will cover all losses using its SAFU fund and company funds, and that it has reserved more than $6.34 billion of company funds to do so. Around $5 billion of this is already held in the same tokens that were stolen, and Binance is buying the rest through the market and OTC trades. It plans to publish a full Proof of Reserves report by Monday.
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.