Over $2 Billion in Crypto Leaves Binance Wallets Amid Hack Suspicions

More than $2 billion in cryptocurrency left wallets linked to Binance on the evening of October 29, 2026, raising suspicions of a major security breach. Blockchain transaction analysis detected the outflows from wallets associated with the world's largest cryptocurrency exchange.

Binance acknowledged reports of a potential security issue and said its teams were actively investigating. The exchange stated that user funds were completely safe, though it did not confirm a hack or explain the origin of the transfers.

“Everything points to a hack.”

On-chain data showed that more than $2 billion exited Binance wallets into newly created addresses. A single transaction moved 167,464 ETH, worth about $388 million, and roughly $1.6 billion in USDT along with 63 other tokens from 14 labeled wallets. Binance then sent 28,005 ETH from 16 wallets to the same address seconds later.

The address that received the funds had been created that day and transferred about 195,460 ETH to another new wallet within 15 minutes. The wallet that initiated the transfer had been funded only through the Tornado Cash mixing service, according to BeInCrypto citing Etherscan data.

Security analysts estimated total outflows across five blockchains and more than 60 tokens at between $2.5 billion and $2.77 billion. PeckShield was among the first to flag unexpected large outflows from Binance hot wallets, and its alert account later described the event as a hack.

Binance edited its statement on X three times. The final version, published at 00:29 Turkey time, said user funds were completely safe. Founder Changpeng Zhao said the incident looked like a hack.