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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.
On Ethereum, 434 million USDT was swapped for 160,451 ETH through Uniswap, 1inch and market makers' request-for-quote systems. The swaps implied a loss of 12% to 26% against the market price, suggesting the attacker was prioritizing speed over value.
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
On October 29, 2026, $6.43 billion in cryptoassets were stolen from Binance, the world's largest cryptoasset exchange, according to Elliptic's analysis.
Elliptic's total excludes a further $169 million that left Binance after withdrawals were suspended.
The two sets of funds have now been combined in several wallets, and the amount has grown overnight. The link was first reported by ZachXBT.