What really happened in the Binance hack? Our analysis of the blockchain data shows: on October 29, 2026 an attacker took control of the hot wallet "Binance 14" with 50 simultaneously submitted signatures and drained about $2.7 billion within seconds. Binance confirmed the hack overnight and says it will cover all losses. According to our measurements and investigators, more than $2.83 billion is frozen, and the attacker is left mainly with 197,460 ETH. Here is what we verified ourselves, what the key voices on X say and where this is heading.
The minute-by-minute account is in our timeline with live ticker, the news itself in our Binance hack report.
Hack or internal transfer? The first debate of the night
In the first hour it was not clear there had been an attack at all. Analyst Simba considered a planned migration between Binance wallets possible: the destination was freshly created and had not moved the funds at first.
BREAKING: $2.7 BILLION JUST MOVED OUT OF BINANCE IN 24 SECONDS. Everyone is screaming HACK. But...
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