Thread: 2026 Binance hack

Live coverage · ended · Oct 29, 5:30–5:52 pm EDT

1. 5:30 pm

   It looks like Binance is getting drained right now, across multiple hot wallets, for $2B and counting.

   Pretty normal for exchanges to migrate wallets, not normal for them to then swap to Tether and dump

   

2. 5:34 pm

   Tether starting to freeze assets

   

3. 5:52 pm

   Binance founder Changpeng Zhao, who is legally not allowed to have any managerial role with the company yet still has remarkable amounts of inside knowledge into its goings on, has tweeted that Tether and Circle have frozen around $1.8B

   (he's just a shareholder, you see)

   CZ 🔶 BNB @cz_binanceTwitter

   User funds are safe!

   It does look like a hack on Binance. Appreciate the quick freeze from Tether (~$971m) and Circle (~$823m).

   I don't manage Binance (.com) anymore, but as a shareholder, I expect all user funds will be fully covered.
   

   Tree News @TreeNewsFeed

   [🌲] TETHER FREEZES $971M USDT IN LIKELY BINANCE HACK, WITH NO UPDATE FROM BINANCE STILL

   Oct 29, 2026original · screenshot