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Binance co-founder Zhao Changpeng says the FBI, US Secret Service and IRS helped track and freeze funds from the Binance theft, which he credits as a key reason Bitcoin did not fall further. The FBI has said North Korea was responsible for the theft of more than $6bn in virtual assets from Binance, with attackers mainly converting the funds to ETH.
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Attackers drained a Binance hot wallet worth more than $2.5bn and Binance suspended withdrawals on 30 Oct. Binance says it recovered 95% of the stolen assets and is resuming withdrawals in phases, restoring POL, USDT and USDC on Polygon and AVAX, USDT and USDC on Avalanche C-Chain. Binance now says withdrawal levels…
Allora says its network and ALLO token contract are secure, and that it used an emergency protection mechanism to freeze ALLO stolen from Binance so the attacker cannot transfer or sell it. The stolen tokens are being returned in full to Binance and total supply is unchanged.
Gate founder and CEO Lin Han called for an industry security alliance with common standards, intrusion detection and emergency response, citing the Binance incident and its roughly $6.3bn loss. Gate proposed split-key vaults and a 48-hour delay on vault withdrawals, and said it has flagged the hacker addresses.
President Donald Trump said the US is investigating the Binance hack and does not yet know whether North Korean hackers were to blame. Binance says it has largely contained the situation and will recover the funds, he told reporters at the White House.
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Binance's co-CEOs He Yi and Richard Teng said the exchange aims to begin phased withdrawal restoration within about 34 hours, subject to security checks. Binance has set aside over $6.34bn, including $5bn in the same tokens as those stolen, covering about 80% of the affected amount, with a first proof-of-reserves snapshot due within 12 hours and results on 2 November.
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Binance's co-CEO says the attack, lasting about 20 minutes, involved a compromised laptop and malware designed to delete evidence, and that its investigation found other intrusion points in its systems and on the laptop. Kraken and Coinbase told customers their crypto remains safe.
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Responding to community claims that Binance's losses were an inside job, Yi He said trading volumes, fees, user numbers and quarterly BNB burns are public, and that AAVE staking is outside the frozen assets. She said $60m staked in AAVE is not among Binance's frozen funds, and releasing that excess collateral through formal procedures could cut losses by $14m.
CryptoQuant analyst Axel Adler Jr. says Bitcoin is testing the cost basis of short-term holders, and that the market's reaction to the Binance hack has so far been restrained, with Bitcoin showing more resilience than during the FTX collapse.
An address tagged as the Binance hacker moved 120 million TRX tokens worth about $38.5m roughly 20 minutes earlier, according to Arkham, and the tokens were then sent on to several addresses.
After a $6.3bn theft at Binance, Coinbase has partly adjusted its cold storage system 'purely out of prudence', chief security officer Jeff Lunglhofer said. Gemini added transfer alerts and limits, Kraken said services are normal, and Coinbase is upgrading phone protections against scam calls.
Bitwise chief investment officer Matt Hougan said on CNBC that the Binance hack will not affect Bitcoin's price or its long-term direction, noting the blockchain itself was not hacked. He expects the market to recover within a week.
Researchers say attackers are using autonomous tools to automate phishing, vulnerability research and credential theft, with Google reporting a 2026 case of mass credential theft in under six hours. Binance estimates its 30 Oct incident caused $6.3bn of impact, while Bitget's September incident involved about $388m moved to attacker-controlled addresses.
SlowMist founder Yu Xian says Lido's seven-day average annual percentage rate climbed from 2.2% to 4.2% over two days. He attributed the rise to intense on-chain competition triggered by yesterday's Binance hack, which lifted Ethereum execution-layer rewards and benefited stETH holders.
Binance says it has restored 90% of the $6.34bn in on-chain losses from a hack, with BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC fully reserved. It says SAFU will be restored to $1bn and the remaining less liquid altcoins are being bought back in stages.
On-chain data shows the Binance SAFU fund address sent out 7,500 BTC in three transactions at about 10:30 and 02:48 UTC, leaving a balance of 7,500 BTC worth about $580m. The transfers may relate to Binance's asset backfill.
A hacker who stole billions in crypto paid roughly $119m in fees while swapping tokens, with an Ethereum block builder collecting more in one day on 30 Oct than Tether did, according to DefiLlama data that its system initially flagged as bad.
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Chainalysis said an Ethereum reorg on the morning of 31 October (ET) made THORChain double-refund a user who deposited 10 ETH, prompting an emergency pause that halted swaps on most of its bridges, incidentally slowing laundering of stolen Binance funds. THORChain's status interface shows 12 of its 13 listed chains still paused, with outbound signing enabled on most.
He Yi said on X that 50% of the funds in Binance's SAFU fund address will be allocated to cover the losses, with the remaining 50% kept in the fund. Details of the address were published in an announcement.
The FBI said North Korea was responsible for the theft of more than $6bn in virtual assets from Binance around 29 October, calling the activity "TraderTraitor". It said attackers mainly swapped the assets into ETH and are expected to launder them through DeFi and instant-exchange services, and published hundreds of related ETH, BTC and SOL addresses.
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President Trump said the US is looking into the Binance hack and does not know whether North Korea is responsible, but would talk to Pyongyang if it is, in remarks shown in a White House rapid response video.
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Responding to the FBI's call for THORNode operators, RPC node operators and DeFi platforms to block transactions linked to the Binance attacker, THORChain co-founder Chad Barraford said the information THORNode operators hold is no more than what is publicly available in real time, so law enforcement needs no subpoena.
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Binance says it has now covered $6bn of the losses caused by the hack. It previously said about 90% of affected assets had been backfilled, up from 80%, with BTC, ETH, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC all fully backed at 100%.
Yi He said on X that Binance's emergency-response departments operate 24-hour shifts and that colleagues spotted the anomaly and began handling it before she learned of the situation on X and joined the response.
Binance said it plans to restore first-phase withdrawals between 14:00 and 09:00 UTC (06:00-09:00 UTC) on 1 Nov, starting with networks and assets including BTC, ETH, BNB, TRX, SOL, XRP, ZEC, DOGE, TON, POL, AVAX, ARB, BASE, OP and SUI.
A hacker linked to Binance sold 908,793 PROM tokens, worth about $5m, into a near-empty Uniswap V2 pool and received only 0.0316 ETH, roughly $71, according to Lookonchain.
Binance said it will resume withdrawals in phases, with the first stage due to begin between 6:00 and 9:00 UTC today. The exchange had said on 30 Oct that it was temporarily suspending withdrawals until a security issue was resolved.
Binance plans to resume first-phase withdrawal services between 14:00 and 09:00 UTC on 1 November, gradually reopening withdrawals for a list of networks and assets.
Binance co-founder Zhao Changpeng says the FBI, US Secret Service and IRS helped track and freeze funds from the Binance theft, which he credits as a key reason Bitcoin did not fall further. The FBI has said North Korea was responsible for the theft of more than $6bn in virtual assets from Binance, with attackers mainly converting the funds to ETH.
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Binance says the Bitcoin network is the first to have withdrawals restored in phases after a security incident, with the first stage running from 14:00 to 09:00 UTC on 1 November and other networks and assets to follow after safety checks.
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Binance staff member Eowyn said withdrawals would resume in phases across 15 networks, with the Bitcoin network first. Early delays are likely to reflect traffic congestion rather than a system failure, she said.
Binance says it has updated its proof-of-reserves address list to include newly generated wallet addresses, and that all future withdrawal transactions will be processed through these new wallets as part of its security response.
Lookonchain says the Binance attacker sold more than 130 altcoins on EVM chains alone, obtaining 123,400 ETH ($277m) and $1.69m in USDC, a total of about $279m.
He Yi said on X that Binance withdrawals are generally running smoothly, though heavy demand could cause congestion before service returns to normal. She urged users to check addresses and confirm the safety of new devices and environments before withdrawing.
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Binance says it has restored withdrawals of USDC, USDT and ETH on Ethereum and of USDC, USDT and BNB on BNB Smart Chain. It will keep bringing back other assets and networks in stages as security checks are completed, with updates through official channels.
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Binance says it has covered 95% of the assets stolen in a hack and warned of temporary withdrawal delays once services resume.
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Binance co-founder Yi He said the exchange needs to work with US companies to freeze and recover assets, and that US law enforcement has acted with high efficiency, with information in globally watched cases strictly verified and evidence-based.
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Arkham monitoring shows an address tagged as the Binance hacker transferred 485,270 SOL, worth about $46.2m, to another address.
Binance says withdrawals are working again on the DOGE network and the OP (Optimism) network, where ETH, USDT and USDC can be taken out. That brings partial-asset withdrawals back on seven networks, with more to follow in phases.
Cross-chain protocol Symbiosis says it detected an attempt to move funds linked to a recent Binance security incident through its platform and is working to block it, having contacted Binance. BlockSec analysis had earlier shown some stolen TRX bridged to Ethereum via channels including Symbiosis.
Binance has restored withdrawals of POL, USDT and USDC on the Polygon network and of AVAX, USDT and USDC on the Avalanche C-Chain. The exchange says it will bring back more assets and networks in phases once security checks are complete.
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A Binance spokesperson said withdrawal levels are stabilising back to what the exchange considers normal and expected on-chain activity, with withdrawals a very small share of assets under management.
Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.
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