Binance has been hacked

[Shadiq]

This unexpected incident may have surprised us all. This is nothing new for Binance, they have been hacked before. This is the second time they have faced the same incident and it was the largest hack in crypto history, with losses amounting to $6.3 billion. Although they are still assuring that they will recover the funds very soon, they have already started working on it.
What surprised me the most was the inclusion of North Korea. It is believed that there may be a possibility of North Korea being involved.

The incident also affected me. Although there is not much money in the Binance account, about 60% of the funds of Shadiq's Interest-Free Loan Service are frozen as a result of this incident. Unfortunately, the funds are mostly spread among the borrowers, and only a few days ago the funds were returned to me. Today, when I opened the fund to make another loan, I found my funds frozen. If this incident had happened a few days ago or a day later, it might not have affected me, but for now it is affecting me and Shadiq's Interest-Free Loan Service. Hopefully, the situation will normalize very soon and our funds will be intact.

[sokani]

Large outflows amounting to possibly $2b had been noticed from Binance hot wallets and they've temporarily suspended withdrawals.
Read more Here

Omo, dis one nah sad news o. E be like say dis time nah all di popular exchanges dey collect woto-woto. First, e start with Bybit, Bitget follow and now Binance and I know say as usual dem go pin am for Lazarus group head.

I'm making this post to alert those that use it in receiving signature payments, especially as Rainbet payment is expected anytime soon. You can reach out to your managers and tell him to hold or provide a new wallet address. We don't know for how long withdrawals would be disabled.

Dis one nah one of many downsides of using a cex to receive campaign payment. Any person wey dey affected, I hope him go learn di hard way so that next time him no go do am again.

[Obari]

Thanks for the heads up!

I hate reading crypto vulnerabilities these days, as they are too much and it's becoming annoying. More than $6B crypto worth has been reportedly affected. However, Binance is a big exchange, so this will pass. They indicated they would restore withdrawal within 48 hours. Let's see if they would be true to their words.

I don't use to doubt their words because I know binance is already a very big company and if you noticed, the price of bitcoin was affected as a result of the news as it dropped but according to the news, the $91m was frozen by Tether but I don't know if Binance have been able verify the news but since they said withdrawals will be restored after 48 hours, then we just have to keep our fingers crossed and see if they would keep
To their words but for the mean time, I think internal withdrawals are still going through and p2p services are still available so users can as well explore those other options.

[Xackie]

This unexpected incident may have surprised us all. This is nothing new for Binance, they have been hacked before. This is the second time they have faced the same incident and it was the largest hack in crypto history, with losses amounting to $6.3 billion. Although they are still assuring that they will recover the funds very soon, they have already started working on it.
What surprised me the most was the inclusion of North Korea. It is believed that there may be a possibility of North Korea being involved.

The incident also affected me. Although there is not much money in the Binance account, about 60% of the funds of Shadiq's Interest-Free Loan Service are frozen as a result of this incident. Unfortunately, the funds are mostly spread among the borrowers, and only a few days ago the funds were returned to me. Today, when I opened the fund to make another loan, I found my funds frozen. If this incident had happened a few days ago or a day later, it might not have affected me, but for now it is affecting me and Shadiq's Interest-Free Loan Service. Hopefully, the situation will normalize very soon and our funds will be intact.

I am even hearing that it could take up to 48-72 hours before the withdrawal options becomes available again. The only thing I am glad about is that CZ and binanace on X assured the people that their funds are safe. Hadn't been the funds weren't safe , there would have been alot of uproar from people on the Internet.  I don't know how North Korea are always the alleged culprit for this hacking activities.  How do they go about it? And always go scot free without any punishment. I know that they are isolated and kind of cut off from the rest of the world. Now big Exchanges and wallets are now vulnerable to hackers , no one looks safe again.

[Odogwu-Blockchain]

I'm surprise that bitget, bybit and binnance have all been hacked in just a year.  This doesn't speak good of these exchanges because it seem their security systems are weak and repeatedly vulnerable to hack.

Binnance is the biggest exchange among them, so I expected it to be more secured but it seems they're just a big name and not what I thought they truly were, they aren't as secure as their reputation speaks.  Centralised exchanges are a death trap, so we should all avoid holding our coins on them because it has been shown that they are not reliable in terms of security.

They are all playing with people's funds and call themselves reputable exchange while failing to spend huge amount of money in their security systems, I am disappointed in all centralized platforms be it exchange, DeFi or casinos, they are all fucked up and playing with user's funds. I trust them no more.

They are only milking on user's trading fees, making profits and doing nothing to secure users. Binance had experienced the second hack, the first was $40m, and now records the highest in history.

I think they know what they are doing, I am begining to suspect these exchange, the hackers are working with them, the secret code to make them vulnerable had been given to the hackers from the Binance insider. I can't trust them again. I am highly disappointed. They aren't doing their job.

Hacking a centralized exchange do not take one day, it had been a process that had occurred long time ago, the IT expert employed by Binance must have track the progress of these hackers and stop them from the beginning. IT experts checks every vulnerable point daily to secure an exchange as part of the routine checks. But they failed or pretend or leaks out to hackers to penetrate through them.

[Exitoral]

This hacks are becoming too frequent already. What seems to be the underlying issue with the security. In the past, you hardly hear of hack as frequently as this. This hacks seems to be targeting the cryptocurrency space more.

Bad actors are now the once ruling. The good once seems to be lost following old patterns that's why I think more frequent hacks are happening.

The security infrastructure need a serious development fast or people will loose faith in this era of digitalised money system.

[EarnOnVictor]

Thanks for the heads up!

I hate reading crypto vulnerabilities these days, as they are too much and it's becoming annoying. More than $6B crypto worth has been reportedly affected. However, Binance is a big exchange, so this will pass. They indicated they would restore withdrawal within 48 hours. Let's see if they would be true to their words.

I don't use to doubt their words because I know binance is already a very big company and if you noticed, the price of bitcoin was affected as a result of the news as it dropped but according to the news, the $91m was frozen by Tether but I don't know if Binance have been able verify the news but since they said withdrawals will be restored after 48 hours, then we just have to keep our fingers crossed and see if they would keep

We don't need to strongly hold Binance for their words, as this can change at their own discretion since they might not be aware of the level of the total damage yet; investigation continues, and they might just convey a reason to the public. I think people would understand; $6.3 heist is no joke. But from business standpoint, I believe they would not delay unnecessarily.

And about he $91m you mentioned, I don't think it's accurate. The news have it that it has frozen at least $3B asset now.

[Antotena]

I am even hearing that it could take up to 48-72 hours before the withdrawal options becomes available again. The only thing I am glad about is that CZ and binanace on X assured the people that their funds are safe. Hadn't been the funds weren't safe , there would have been alot of uproar from people on the Internet.  I don't know how North Korea are always the alleged culprit for this hacking activities.  How do they go about it? And always go scot free without any punishment. I know that they are isolated and kind of cut off from the rest of the world. Now big Exchanges and wallets are now vulnerable to hackers , no one looks safe again.

It will likely reach Monday. When Bitget was affected, they later made an announcement on how withdrawals will go Henceforth and now the same attack has befall on Binance. They will also reach Monday considering the fact that multiple coins were sent out from the exchange hot wallet. They will make sure all of those are check and the reserve is fill back with report of the money in their custody. Funny thing is, I never expected Binance to be this fragile with such attack.

I know there are people with stuck funds waiting for the exchanges to open withdrawals so they can take their money and leave he exchange. Hopefully, they don't move from frying pan to fire, many people will withdraw their coins from Binance to another exchange that has not been hack not knowing the exchange might be the next attack.

[Nwada001]

Binance is a big fish in the industry and this isn't the first time they are being attacked and I hope they recover quickly from this one too, over the years binance has managed to build a good reputation for themselves and I have been using it too so I'm not going to badmouth them now because being hacked was inevitable but I hope it ends well for everyone using binance, let's not panic until we see an official message from binance and even CZ said that users funds are safe and I'm counting on that.

They said funds are safe and they can cover up everyone who is affected. Their first hack, which I’m aware of, was around 2019, which was when the exchange was not as large as it is now and the loss was not high, maybe around $40m; it’s just a matter of days before they come back fully active and all operation restarted.

[CryptopreneurBrainboss]

I'm making this post to alert those that use it in receiving signature payments, especially as Rainbet payment is expected anytime soon. You can reach out to your managers and tell him to hold or provide a new wallet address. We don't know for how long withdrawals would be disabled.

This is wrong, you shouldn't receive any signature transactions directly to your exchange address but instead use your personal wallet to receive then you can send them out for exchanging later. Exchanges shouldn't be used as personal wallets or you might find yourself in a situation you didn't plan for. Check out now some people are stuck with no access to their funds they kept on Binance which is it didn't recommended to not trust exchange to hold your Bitcoin for you. Those that had their Bitcoin in their self custodial wallets can trade IN other exchanges and get fiats. Beside you don't know what might happen that your coins gets frozen because of your address being associated directly with a flagged casino address or just unnecessary problem that this platforms brings up. Not your keys, not your coins, always put that at the front of your mind.

[Curious T]

This is wrong, you shouldn't receive any signature transactions directly to your exchange address but instead use your personal wallet to receive then you can send them out for exchanging later. Exchanges shouldn't be used as personal wallets or you might find yourself in a situation you didn't plan for.

I don't know why people do this. I always see posts and discussions on how exchanges shouldn't be used as private wallets, but the same people still go ahead and use exchanges to receive signature campaign payments. The fee to transfer coins from a wallet to an exchange to sell is very small, especially now, so I don't see why people can't just use a wallet. So if they want to sell the coins and they want to hold it for a while, they will leave it on the exchange? Despite how much we discuss not leaving your funds on an exchange? It's almost like people don't learn anything at all.

[Stormisover]

Binance is a big fish in the industry and this isn't the first time they are being attacked and I hope they recover quickly from this one too, over the years binance has managed to build a good reputation for themselves and I have been using it too so I'm not going to badmouth them now because being hacked was inevitable but I hope it ends well for everyone using binance, let's not panic until we see an official message from binance and even CZ said that users funds are safe and I'm counting on that.

Yes the most important thing now is that of their  assurance of users funds being safe, hopefully they will come out of this again just that the whole thing is a huge inconvenience, no where that is completely safe so there is no need to badmouth them especially when you are being assured that your funds are safe. For now, let's not panic, it is just a thing of time and I believe everything is going to be normal again. Binance is one of the large and reputable exchange and the reason why they are getting this attack this often, am hopefully they will handle everything correctly and as not to lose this reputation they have made so much efforts to build.

[Rgram]

Bad actors are now the once ruling. The good once seems to be lost following old patterns that's why I think more frequent hacks are happening.

The security infrastructure need a serious development fast or people will loose faith in this era of digitalised money system.

The bad actors has always being around and now, they are finding more and more tools to use in perpetuating their evil deeds.

AI has made far much research works into the vulnerabilities that might exists on certain sites and services possible. It would be the more better should the security structure about these services in the cryptospace develop a routine pattern to always discover, manage and resolve any possible threats and vulnerabilities.

The hacks are becoming too rampant.

[Tony Adams]

The Binance hack incident has really created a lot of criticism around the world, how could such a secure exchange be hacked. Hackers have hacked $6.3 billion from Binance, now many people have started using hot wallets, thinking that there is a lot of security there. But the hackers of that place have stolen a lot of money from investors, which is really a very sad incident. This exchange is the most reliable and best exchange in the world, the hackers have attacked here in a way that has hacked a lot of money. However, we have to be more careful, especially the exchanges are more targeted by hackers, so I think it is best to use a safe wallet.

[yixichloro2xx]

Binance is a big fish in the industry and this isn't the first time they are being attacked and I hope they recover quickly from this one too, over the years binance has managed to build a good reputation for themselves and I have been using it too so I'm not going to badmouth them now because being hacked was inevitable but I hope it ends well for everyone using binance, let's not panic until we see an official message from binance and even CZ said that users funds are safe and I'm counting on that.

Yes the most important thing now is that of their  assurance of users funds being safe, hopefully they will come out of this again just that the whole thing is a huge inconvenience, no where that is completely safe so there is no need to badmouth them especially when you are being assured that your funds are safe. For now, let's not panic, it is just a thing of time and I believe everything is going to be normal again. Binance is one of the large and reputable exchange and the reason why they are getting this attack this often, am hopefully they will handle everything correctly and as not to lose this reputation they have made so much efforts to build.

I agree with you, Binance is a good exchange and surely they know that one day , someone will surely try to hack them and they would have prepare some preventive measures down. Like having a reserve funds to compensate people whose money were stolen and moreover I haven't really seen anyone complaining that their money has been stolen or just like the one I am hearing that Tether froze their funds. There's no safe place to store our Bitcoin whether it's hard/soft wallet or Exchange all of them are prone to hacking these , due to the kind of technology we are having now. As long the founder has assured people that their funds are safe , then there's no reason to panic that much.

[PremiumcryptoHub]

Update

Hackers have stolen huge amount of money from Binance but I observed their latest update said that about 90% of the stolen assets have been recovered and ten cryptocurrencies including BTC ETH, BNB, USDC, XRP and USDT are fully protected. You may have seen that this large exchange mentioned that Binance will bear the financial impact of the stolen funds, maybe they are doing that because they have already been able to recover the hacked assets. Withdrawal of Secured Asset Fund for users may start from November 1, even those of our local board who could not withdraw their funds due to this Binance hack should transfer them to other wallets or cold storage wallets as soon as the withdrawal service resumes.

Binance said 10 cryptocurrencies were fully backed after replenishing 90% of stolen assets. The exchange is sourcing less liquid tokens to close the remaining shortfall while targeting a Sunday withdrawal restart.

[Charles-Tim]

I agree with you, Binance is a good exchange and surely they know that one day , someone will surely try to hack them and they would have prepare some preventive measures down. Like having a reserve funds to compensate people whose money were stolen and moreover I haven't really seen anyone complaining that their money has been stolen or just like the one I am hearing that Tether froze their funds.

Binance and all the exchanges that have protection funds or SAFU or whatever it is called are only just lucky for now. If they are hacked with higher amount of money stolen by the hackers, you will see how the exchanges may not be able to cover for the losses. Or if the exchange like Binance is hacked again in few days and higher amount of money is stolen. That will be the time that many people that use exchanges to store their coins will realize that it is not the proper way.

[Franctoshi]

I just confirmed the new, CZ said "it looks like" Binance has been hacked what a funny man. I wonder if he was ashamed of saying they've been hacked. That aside why would people store their Bitcoins with exchanges after knowing how vulnerable they've been to hackers this year.

Let me just believe that no one is doing that cause I'll be so disappointed that after several exchanges got hacked people still use Binance to receive payment, like what would even give them the mind to trust the exchange?

You should understand that these people are public figures and they're always diplomatic in the way say things, so don't expect him to say it in such way that people will panic, because if he communicates in that way you expect, it will cause more panic and thereby affecting his business and exchange. One of my friend were so lucky that, after he moved his funds from the exchange, few hours later the news broke out.

[Asiska02]

Update

Hackers have stolen huge amount of money from Binance but I observed their latest update said that about 90% of the stolen assets have been recovered and ten cryptocurrencies including BTC ETH, BNB, USDC, XRP and USDT are fully protected. You may have seen that this large exchange mentioned that Binance will bear the financial impact of the stolen funds, maybe they are doing that because they have already been able to recover the hacked assets.

Those assets that were freeze by third party that was linking to the exploit may be what they’ve recovered back. Also, they already mentioned that they’ve set aside more than $6.34B in company funds to cover for the amount that was hacked which was around 80% of the whole amount that was hacked. With the recovery of some of this assets, they now have about 90% covered amount of the total hack.

Withdrawal of Secured Asset Fund for users may start from November 1, even those of our local board who could not withdraw their funds due to this Binance hack should transfer them to other wallets or cold storage wallets as soon as the withdrawal service resumes.

I didn’t see many of the users changing their wallet address on the campaign thread, I think most of them don’t really keep money there after receiving payment. They sell them off or move them to a personal wallet. Also, binance is one of the exchanges that their users trust so much, they believe their funds are safe and can continue using them despite the recent hack that lead to this short term withdrawal suspension.

[Karl_3000]

Binance said withdrawal will begin tomorrow which is Sunday. The exchange also said 90% of the $6.3 billion hack losses are now covered. If you are interested, you can read it from https://www.cnbc.com/amp/2026/10/31/binance-hack-asset-coverage-withdrawals.html

Binance says it remains on track to reopen withdrawals Sunday, subject to security checks and final confirmation.

https://www.cnbc.com/amp/2026/10/31/binance-hack-asset-coverage-withdrawals.html

I'm surprise that bitget, bybit and binnance have all been hacked in just a year.  This doesn't speak good of these exchanges because it seem their security systems are weak and repeatedly vulnerable to hack.

Bybit was hacked last year. The exchange was hacked on Friday, February 21, 2025 which is also more than a year ago.