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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 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 security firm Blockaid said its team had identified roughly $3.3 billion in suspicious transfers involving Binance-linked wallets across Ethereum, Arbitrum and Avalanche.
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.
Teng also disclosed that the attacker used a “self-destruct mechanism” to destroy tools and traces during the breach, complicating the investigation.
Binance is aiming to resume withdrawals within 40 hours and publish a full proof-of-reserves report by Monday, co-CEO Richard Teng [said]
The attacker used an EIP-7702 delegation to gain execution authority over a hot wallet, Teng said. That delegation “did not pass through our normal approval controls.”