BTC
ETH
SOL
XRP
BNB
TON
DOT
LTC
POL
HBAR
NEAR
ARB
UNIBinance faces inside job claims as $6.3bn hack proof of reserves slips to 2 Nov
Traders on X are questioning whether the $6.3bn Binance hack was an inside job, arguing a reserves snapshot taken after Binance buys back stolen assets cannot show the true shortfall.
Key points
- Binance said on 30 Oct it had covered about 80% of stolen assets and was buying the remaining 20%
- The proof-of-reserves snapshot was due within 12 hours, with results expected on 2 Nov
- TRM Labs attributed the theft to North Korea's Tradertraitor group with "high confidence"
Critics argue that a snapshot taken after the buyback cannot show how large the hole was. Trader Financelancelot called the hack "totally an inside job", while another user alleged Binance engineered it to cover a liquidity crisis, comparing the situation to FTX. Solana trader Ansem cited the 10 Oct 2025 liquidation crash and said his trust in Binance was gone. Bitcoin.com News notes that none of these claims is backed by hard evidence.
Investigators instead point to an outside attacker.
Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
How this was produced: an AI model wrote this summary of Bitcoin.com News’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.
Not investment advice. Read the risk disclaimer.