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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.
The overlap with Bitget is small, about $39,000 of Binance funds at the shared address against about $510,000 from Bitget, and that shows a shared laundering network, not necessarily the same hackers. The thief also left most of the stolen USDT unconverted for 37 minutes on Ethereum and 46 on Tron, where North Korean groups usually move faster.
an attacker emptied Binance hot wallets on 10 blockchains
The most likely explanation is that the attacker gained the ability to make Binance's hot wallet signing system sign transactions of its choosing across chains.
Early signs on Ethereum pointed to phishing of the authorizations, which could explain Ethereum but none of the other chains.
Cap value and rate per wallet at the signer and hold new destinations for a second approval
Binance says it found no evidence that a private key leaked, while investigators say Binance's signing system signed for the attacker, and the two statements can both be true.