FORBES · 2026-11-02 13:16 UTC

What Crypto Users Should Do After Binance's $6 Billion Hack

Binance suffered a $6.3 billion hack on October 29 when hot wallets were compromised; the FBI attributed the attack to North Korea's TraderTraitor group. Binance has covered 95% of the loss and reopened withdrawals on November 1, with customers withdrawing $3.64 billion net in the first hours. Security experts advise users to keep only active trading balances on exchanges and treat proof-of-reserves as a solvency snapshot, not a security guarantee.

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