BINANCE - BIGGEST HACK EVER, $6.3 BILLION WORTH OF ASSETS STOLEN [UPDATED]

[Karl_3000]

Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday

This is what I saw on CNBC and Binance has been sending notifications to their users about it. If you are interested in reading about it, you can use this link to access the information: https://www.cnbc.com/amp/2026/10/31/binance-hack-asset-coverage-withdrawals.html

People should be expecting withdrawal to resume tomorrow on Binance.

But what about the remaining 10%?
Also what if Binance is hacked again very soon?

Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

[terrific]

I have funds sitting there but it's probably just a number right now unless the fund that they'll use to cover is there already and they allow the withdrawals.

You say people who have funds there shouldn't have had it in there, but then tell us that you also do, lol. Self custodial storage is the recommended way to store crypto, but people would always have funds stored in custodial services for different reasons, and i think i've come to accept that. However, the smart thing to do is to keep only a small amount of your crypto in these custodial platforms, if you must use them.

Yes, I have funds there but it's not a lot compared to the others who's probably holding their life savings there.
And if there's something wrong and binance announces that they won't be able to cover everything, it won't hurt me.
It becomes a norm to store funds there as we find the better place where it can be stored, with hardware wallet issues too.
But the reminder remains there and it applies also to me and for everybody.

Don't be that nervous about your money. They will recover it from both their own reserves and SAFU. After the FBI and corporate partners' investigations are concluded, I suppose withdrawal procedures will resume as usual. I think they must have enough money to cover all the loss. You actually made a risky error by keeping your money in the exchanger, but I'm just telling you that to calm you down. I hope this is the lesson you've been waiting for to realize how naive you were.

I am not nervous and they have mentioned that they'll cover everything for what's lost. The amount isn't even big that I should worry at all.

[Stalker22]

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Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

Well, yeah, but than what?  Where else are people supposed to go?  Coinbase?  OKX?  Who is to say that something similar could not happen to them, too?

Is it risky leaving stuff on CEXs? Yeah, obviously.  But its not like people have too many options when it comes to using crypto exchanges.

[Dogedegen]

Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday

This is what I saw on CNBC and Binance has been sending notifications to their users about it. If you are interested in reading about it, you can use this link to access the information: https://www.cnbc.com/amp/2026/10/31/binance-hack-asset-coverage-withdrawals.html

People should be expecting withdrawal to resume tomorrow on Binance.

But what about the remaining 10%?

Why make unnecessary evil implications? Some of those tokens are low liquidity tokens, you can't just market buy millions worth of them. They are slowly restoring positions of each and every coin and token, and it will take some time. What is it to you if it takes them even weeks to do this? It has no relevant to the situation at all. It only becomes relevant and dangerous if 100% of the affected assets were to be withdrawn by the users, a scenario that is not going to happen so we can ignore it. People and the internet man, they restore 90% after a few days worth billions of dollars and you still find something wrong with it..

Also what if Binance is hacked again very soon?

What if all hardware and software customer wallets get hacked very soon?

Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

Yeah and then you get hacked like Coldcard, Ledger and possibly Trezor implants. That is a good way for many people that are not good with technology to get hacked. Self-custody is not a perfect solution, so we need to stop falsely reporting it like that to people. Such incorrect advice is what caused most of the losses of the major self-custody hacks of the years.

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Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

Well, yeah, but than what?  Where else are people supposed to go?  Coinbase?  OKX?  Who is to say that something similar could not happen to them, too?

Is it risky leaving stuff on CEXs? Yeah, obviously.  But its not like people have too many options when it comes to using crypto exchanges.

Everything has its own risk and tradeoffs, custodial, non custodial. CEX, ETF, hardware wallet, airgap, whatever. So we need to be careful how we word advice and concerns.

[Orpichukwu]

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Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

Well, yeah, but than what?  Where else are people supposed to go?  Coinbase?  OKX?  Who is to say that something similar could not happen to them, too?

The next place is just use exchange, which is available for the main time, but the idea is never to leave money in an exchange. Those who leave money and use it as custody will be the ones looking for where next should be considered safe for them, like those whose funds are stocked there for days until when withdrawal will resume.

[Juse14]

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Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

Well, yeah, but than what?  Where else are people supposed to go?  Coinbase?  OKX?  Who is to say that something similar could not happen to them, too?

Is it risky leaving stuff on CEXs? Yeah, obviously.  But its not like people have too many options when it comes to using crypto exchanges.

Will be possible on other exchanges, no one is safe even if they increase higher security, there are people who do not believe so also who believe.

It's hard to leave CEX, everyone is involved because they will exchange fiat there easier not from DEX or instant exchanges.

Everything has its own risk and tradeoffs, custodial, non custodial. CEX, ETF, hardware wallet, airgap, whatever. So we need to be careful how we word advice and concerns.

I want to know what are the risks of ETFs? Can we lose money? Narrative in X only securely stores bitcoin in ETFs.

[Darker45]

Everything has its own risk and tradeoffs, custodial, non custodial. CEX, ETF, hardware wallet, airgap, whatever. So we need to be careful how we word advice and concerns.

I want to know what are the risks of ETFs? Can we lose money? Narrative in X only securely stores bitcoin in ETFs.

Yes, you can, too, and in a number of ways. In the first place, your Bitcoin is under the custody of a third party. Is it impossible for the funds to get compromised? Of course, not.

And then there's also the issuer and the broker, which could also get into problems. That could also result into you not having access to your funds.   

Moreover, the good thing with the likes of Binance is that withdrawal, deposit, and trading are available 24/7. If there are some big news, market development, or whatever that you think may massively affect the price or would cause a huge swing, you can deposit, trade, or withdraw right away. You can't do that with your ETF. All you can do is monitor the price helplessly and wait for the trading hour or day to open to actually do something, which could be too late already.

[Dave1]

And just what we all have been suspecting as who is the group behind this attack, FBI says it's the North Koreans,

https://www.fbi.gov/investigate/cyber/alerts/2026/north-korea-responsible-for-6-billion-binance-attack

Still though, nothing has change as this is the obvious hackers that have been wrecking havoc on most exchanges hacked in the last couple of years and there will be no stopping this rouge nation.

[OmegaStarScream]

Withdrawals are now live but only for BTC. In all supported networks except the lightning network. If anyone is interested in checking real time status of withdrawals, you can find it here : https://www.binance.com/en/network

[Cookdata]

Withdrawals are now live but only for BTC. In all supported networks except the lightning network. If anyone is interested in checking real time status of withdrawals, you can find it here : https://www.binance.com/en/network

Withdrawal Update

Withdrawals have now been restored for the following assets and networks:

- Ethereum Network: USDC, USDT, ETH
- BNB Smart Chain (BSC): USDC, USDT, BNB

We will continue to restore additional assets and networks in phases following the completion of our security checks. Further updates will be shared through official Binance channels.

https://x.com/binance/status/2116799757507305516

Additional withdrawals for some assets are resumed.

[greysonz]

There are reports that 300 million USDT was withdrawn from the Binance wallet, but Diana from Binance writes that this is an internal transfer to newly created Binance hot wallet addresses. Other Binance employees are also trying to reassure everyone. This has been going on for two days now.

It's possible that major players are leaving the exchange.



And withdrawals have now been re-enabled for the following networks and assets:

BTC: BTC, ETH: ETH, USDT, USDC, BSC: BNB, USDT, USDC,  XRP: XRP, Base: ETH, USDC

EDIT:

ARBITRUM: ARB, ETH, USDT, USDC
TRX: TRX, USDT

MATIC (Polygon): POL, USDT, USDC
AVAXC: AVAX, USDT, USDC

https://x.com/binance/status/2116827310229967326?a=xIVGzD3yikt7QdHH3s4&s=19

[Just Say]

And withdrawals have now been re-enabled for the following networks and assets:

BTC: BTC, ETH: ETH, USDT, USDC, BSC: BNB, USDT, USDC,  XRP: XRP, Base: ETH, USDC

We will continue to restore additional assets and networks in phases as security checks are completed. Further updates will be shared through official Binance channels.

https://x.com/binance/status/2116827310229967326?a=xIVGzD3yikt7QdHH3s4&s=19

Yes, Binance has now re-opened the withdrawal process for this network and assets, but a table in their Recovery Update 4 stated that, withdrawals will be possible from Tron and Solana networks after the Bitcoin, Ethereum, and BNB Smart Chain networks are launched but you take a look their latest update shows that even though they started the withdrawal process late from Tron and Solana, users are already able to transfer tokens from almost all their networks with ease.

Latest Withdrawal Update

Withdrawals have now been re-enabled for the following networks and assets:

New:
ARBITRUM: ARB, ETH, USDT, USDC
TRX: TRX, USDT

Already Enabled:
BTC: BTC
ETH: ETH, USDT, USDC
BSC: BNB, USDT, USDC
XRP: XRP
Base: ETH, USDC
DOGE: DOGE
OP (Optimism): ETH, USDT, USDC

We will continue to restore additional assets and networks in phases as security checks are completed. Further updates will be shared through official Binance channels.

https://x.com/binance/status/2116844881448743094?a=GWKtWe4TMdLZze5Vres&s=19

Withdrawals are now live but only for BTC. In all supported networks except the lightning network. If anyone is interested in checking real time status of withdrawals, you can find it here : https://www.binance.com/en/network

This may be a slight error as their exchange withdrawal process still shows that only BTC is being withdrawn from the Bitcoin network but BSC,Lighting and ETH network are still suspended as I noticed from this exchange.

[Kiddo15]

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Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

Well, yeah, but than what?  Where else are people supposed to go?  Coinbase?  OKX?  Who is to say that something similar could not happen to them, too?

The next place is just use exchange, which is available for the main time, but the idea is never to leave money in an exchange. Those who leave money and use it as custody will be the ones looking for where next should be considered safe for them, like those whose funds are stocked there for days until when withdrawal will resume.

And when withdrawal resumes, people will withdraw their funds in droves, what happened might likely crash Binance customer base, because trust has been lost, and for anybody to want to keep his crypto asset in binance, that person will be doing that at owner's risk and with the mindset that anything can happen which is not a good PR for a platform that serve as a custodian for people's assets.

[sergiorus]

For anyone wanting to track outflows from Binance in the next few days there's a good resource: https://defillama.com/cexs




$1.263 billion worth of funds have already left Binance in the last few hours.

Unfortunately they don't track Coinbase's reserves, and I'm sure they are the main beneficiaries of that but apart from it OKX obviously is the #1 by inflows today but #2 may surprise many - it is the ancient dog Bitstamp. It's been rather dead for a few years but for those who don't know it's know owned by Robinhood, so I suppose at least security level should be impeccable. I guess that's why some choose it now, probably just for holding.

[OmegaStarScream]

This may be a slight error as their exchange withdrawal process still shows that only BTC is being withdrawn from the Bitcoin network but BSC,Lighting and ETH network are still suspended as I noticed from this exchange.

I don't believe that was the case when I first posted the link but I could be wrong.
The current state of things:

Withdrawals have now been re-enabled for the following networks and assets:

New:
✅ ARBITRUM: ARB, ETH, USDT, USDC
✅ TRX: TRX, USDT

Already Enabled:
✅ BTC: BTC
✅ ETH: ETH, USDT, USDC
✅ BSC: BNB, USDT, USDC
✅ XRP: XRP
✅ Base: ETH, USDC
✅ DOGE: DOGE
✅ OP (Optimism): ETH, USDT, USDC

Please carefully check all details during the withdrawal process, and make sure your device is secure and the address is correct. Safety first.

And when withdrawal resumes, people will withdraw their funds in droves, what happened might likely crash Binance customer base, because trust has been lost, and for anybody to want to keep his crypto asset in binance, that person will be doing that at owner's risk and with the mindset that anything can happen which is not a good PR for a platform that serve as a custodian for people's assets.

What would the alternative be though (for a user who wants to switch to another CEX)? Pretty much all exchanges have been hacked before, I believe except for OKX? Coinbase and Kraken are mostly used for fiat and do not support as many countries as crypto to crypto platforms.

For anyone wanting to track outflows from Binance in the next few days there's a good resource: https://defillama.com/cexs
-snip-

It does not seem like it's showing anything other than the inflows?

[BALIK]

You know what, when I saw this quote earlier, I didn't have time to reply. So, I came back now and I just learned something today. I do see Yi He tweets anytime Binance makes major announcement and events but I never for once knew they were in relationship. I just found out they have 3 children together, my God. That means Binance is run by elite and family members, they are running the business together but kept cool, they don't even show it anywhere, smart people.

This is day 3 since Binance was hacked, they have made series of announcements on announcement and withdrawal is still disabled. They claimed they are buying back to refill the reserve. When Bitget was affected, people almost skinned the CEO alive why they restricted withdrawals but CZ is enjoying and trolling back anyone that trolls him. He has concrete balls I must say.

Even more interesting, YiHe isn't just a Co-CEO, she's also Binance's 2nd largest shareholder after CZ. 

So even if they don't publicly acknowledge it, we could call Binance CZ's family business. LOL.

Anyway, looks like things are finally coming to an end, since they've started restoring withdrawals today, just as promised. That's good to see. Withdrawals are still rolling out across more chains too.

Latest Withdrawal Update

Withdrawals have now been re-enabled for the following networks and assets:

New:
✅ ZEC: ZEC
✅ TON: USDT, GRAM
✅ SUI: SUI

Already Enabled:
✅ BTC: BTC
✅ ETH: ETH, USDT, USDC
✅ BSC: BNB, USDT, USDC
✅ XRP: XRP
✅ Base: ETH, USDC
✅ DOGE: DOGE
✅ OP (Optimism): ETH, USDT, USDC
✅ ARBITRUM: ARB, ETH, USDT, USDC
✅ TRX: TRX, USDT
✅ SOL: SOL, USDT, USDC
✅ MATIC (Polygon): POL, USDT, USDC
✅ AVAXC: AVAX, USDT, USDC

We will continue to restore additional assets and networks in phases as security checks are completed. Further updates will be shared through official Binance channels.

https://x.com/binance/status/2116871932075516174

[sokani]

And when withdrawal resumes, people will withdraw their funds in droves, what happened might likely crash Binance customer base, because trust has been lost, and for anybody to want to keep his crypto asset in binance, that person will be doing that at owner's risk and with the mindset that anything can happen which is not a good PR for a platform that serve as a custodian for people's assets.

I do not think this would happen. I'm sure Binance will be anticipating a massive withdrawal request when withdrawals resume and should be prepared for it. So I do not expect their system to crash. Rather, I would expect the withdrawal process to be a bit slower than what it used to be because of the massive withdrawals request.

[alani123]

Binance says 90% of $6.3 billion hack losses are now covered, plans to resume withdrawals Sunday

This is what I saw on CNBC and Binance has been sending notifications to their users about it. If you are interested in reading about it, you can use this link to access the information: https://www.cnbc.com/amp/2026/10/31/binance-hack-asset-coverage-withdrawals.html

People should be expecting withdrawal to resume tomorrow on Binance.

But what about the remaining 10%?
Also what if Binance is hacked again very soon?

Withdraw your coins on Binance to self-custody wallet and learn about how you can protect the coins.

The remaining 10% is mostly shitcoins. Binance has been known for letting anyone list their coin there so long as they pay a fee and provide funds for market making. Well, good luck recovering coins with no liquidity elsewhere. It's going to take a while to source all these hundreds of assets without good liquidity in the market and without any OTC desks fulfilling orders.

[sergiorus]

It does not seem like it's showing anything other than the inflows?

DefiLlama tracks everything that's possible to track about exchanges but regarding flow of funds there's only net inflows, yes. Negative net inflow means outflow.

For what it's worth, Binance's net outflow (inflow minus outflow) since they opened withdrawals stands at $3.5 billion already. I think it takes some time to update too so possibly even more now.

OKX is still the main beneficiary with Bybit taking #2 spot from Bitstamp

[nikola22]

And just what we all have been suspecting as who is the group behind this attack, FBI says it's the North Koreans,

https://www.fbi.gov/investigate/cyber/alerts/2026/north-korea-responsible-for-6-billion-binance-attack

Still though, nothing has change as this is the obvious hackers that have been wrecking havoc on most exchanges hacked in the last couple of years and there will be no stopping this rouge nation.

there is an interesting paragraph in this FBI communication:

FBI, USSS, and IRS-CI are urging private sector entities including THORNode operators, RPC node operators, instant exchanges, DeFi services, blockchain analytics firms, and other virtual asset service providers to block transactions with or derived from addresses TraderTraitor actors are using to launder these stolen assets.

is there any chance that THORNode operators might heed the FBI and block transactions linked to TraderTraitor addresses?