COINTELEGRAPH · 2026-10-30 22:00 UTC

Binance hackers raced to move billions before it could be frozen

Binance suffered a $6.3 billion hack, the largest in crypto history, with attackers linked to North Korean hackers behind the Bitget hack. Hackers rapidly converted frozen stablecoins like USDT and USDC into Bitcoin and Ether within an hour, racing against token issuers' freeze efforts. About $3 billion of stolen assets were frozen onchain; Tether froze $1.567 billion USDT and Circle froze $823 million USDC, but decentralized assets like BTC and ETH remain largely unrecovered.

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