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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.
Stablecoins make up 94% of the frozen funds, almost entirely on Ethereum and Tron. Arbitrum and Optimism are the only blockchains where everything stolen has been secured, in both cases by the network's own governance. Nothing stolen on Bitcoin, the XRP Ledger, Solana or NEAR has been frozen, because native assets have no issuer that can freeze them.
The FBI has previously attributed the Bybit and DMM Bitcoin thefts to TraderTraitor.
The long preparation, the apparent targeting of staff and the use of Binance's own systems to sign transactions resemble earlier TraderTraitor thefts, including Bybit.
Elliptic has identified common service usage between those laundering the Binance funds and those behind three earlier thefts attributed to TraderTraitor, from BigONE, WOO X and AFX.
Tether froze that wallet 37 minutes later, locking 1.18 billion USDT in place
Elliptic has verified $2.85 billion of frozen or seized funds, 44% of the theft