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AI summary of a third-party reportBearishNewsDesk

Binance-linked wallets lose $5.57bn in suspected hack as Tether and Circle freeze $1.8bn

At least $5.57bn left Binance-linked hot wallets on Ethereum, Bitcoin and Tron on 29 October 2026, according to an on-chain tally. Binance says it is investigating a potential security issue and has not confirmed any impact to user funds.

InvestIn.News NewsDesk · 1 min read
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Picture from Decrypt for: Binance-linked wallets lose $5.57bn in suspected hack as Tether and Circle freeze $1.8bn
Image: Decrypt
Original reporting: Jose Antonio Lanz, Decrypt

Key points

  • The tally covers $3.51bn on Ethereum, 18,270 Bitcoin worth $1.44bn and $630m on Tron.
  • Tether froze 975.1m USDT and Circle froze 823m USDC in the main receiving wallet, about $1.8bn in total.
  • Bitcoin fell below $79,000, BNB dropped about 7% to roughly $699 and Monero rose about 6% to $637.

If confirmed, the suspected hack would be the largest on record in crypto.

The tally counts $3.51bn on Ethereum, $1.44bn in 18,270 Bitcoin and $630m on Tron.

Odysseas Lamtzidi of Phylax Systems said such a delegation persists and can authorise later transfers without another signature. How the attacker obtained the required signature is still unknown.

Circle chief executive Jeremy Allaire said the firm acted in coordination with law enforcement. Bitcoin slid below $79,000, BNB fell about 7% and privacy coin Monero rose about 6%.

What to watch: Binance says its security teams are reviewing the information and will post verified updates through its official channels.

Read the full story on Decrypt

Live updates on NewsFeeds:StablecoinsBitcoinDesk 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 Decrypt’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.

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