Overview
- Binance lost about $6.3 billion in a rapid multi‑chain drain on October 29, 2026 when attackers emptied hot wallets used for withdrawals.
- The thieves used Ethereum’s EIP‑7702 delegated‑permission feature to authorize attacker software and move roughly $2.5 billion in a single transaction after paying about $15 in network fees.
- Investigators say the breach followed a months‑long intrusion that began with fake job interviews and trojanized developer tooling, giving attackers roughly eight weeks of access before the October 29 theft.
- Stablecoin issuers and partners froze roughly $2.85–3.0 billion of suspected stolen assets and Binance says it covered most user losses from corporate reserves while rebuilding wallet controls and posting proof‑of‑reserves.
- Tracing and law‑enforcement work is ongoing with about $3.1 billion still linked to the theft and public reporting noting an unverified anonymous claim of Chinese involvement that does not replace the FBI attribution.