FORBES · 2026-11-02 15:33 UTC

Binance Lost $6.3 Billion In 20 Minutes. Who Holds The Keys?

Attackers drained $6.3 billion from Binance across ten blockchains in 20 minutes on October 29, making it crypto's largest-ever hack - four times larger than the previous record Bybit hack. The FBI attributed the theft to TraderTraitor, a North Korean hacking team. Stablecoin issuers Tether and Circle froze roughly $2.4 billion within 40 minutes, but attackers had pre-converted about $786 million into freeze-proof assets. Binance has replaced approximately 95% of affected assets using its SAFU emergency fund and company resources as of Sunday.

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