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An independent record of the October 2026 Binance hack
This line is our short summary of the quote below. The quote is the evidence.
Binance said it has temporarily suspended deposits as it conducts security checks, freezes funds and coordinates with law enforcement.
Reviewer note: Event time is the time Cointelegraph stamped its live-blog entry (12:07 am UTC), not a time stated by the speaker.
Blockchain security firm Blockaid said its team had identified roughly $3.3 billion in suspicious transfers involving Binance-linked wallets across Ethereum, Arbitrum and Avalanche.
Tether CEO Paolo Ardoino said the company had frozen more than $1.567 billion in USDT linked to the potential exploit.
Circle CEO Jeremy Allaire said the company had frozen more than $800 million in USDC in coordination with law enforcement and would continue supporting the investigation.
Binance co-founder Changpeng Zhao said the activity appeared to be a hack, adding that Tether and Circle had frozen approximately $971 million and $823 million, respectively. Zhao said he expected all user funds to be fully covered.
Blockchain analytics platform Arkham Intelligence later identified a collection of wallets labeled “binance-hacker-1029” holding approximately $5.84 billion in digital assets. The figure represents the wallets’ reported holdings rather than a confirmed estimate of stolen funds.