Binance reported $6.3 billion in assets involved, with $3 billion frozen.
Why it matters: The incident could test confidence in Binance and expose vulnerabilities across digital-asset infrastructure. The figures measure assets involved, wallet outflows and frozen funds - not confirmed customer losses - and may overlap.
- Binance estimated that the incident involved approximately $6.3 billion in crypto assets on October 29, 2026.
- Binance reported that about $3 billion had been frozen on-chain by October 30, 2026.
- Binance said it would cover losses using its Secure Asset Fund for Users and company funds.
- CoinDesk estimated that at least $5.57 billion had left Binance-linked wallets, but did not establish that figure as a confirmed theft total.
Binance said a suspected security incident involved approximately $6.3 billion in crypto assets. The underlying wallet activity occurred on October 29, 2026, and the company published its update on October 30. Binance reported that about $3 billion had been frozen on-chain.
The figures are not necessarily additive. The $6.3 billion figure was Binance's estimate of assets involved; the $5.57 billion figure was CoinDesk's estimate of assets that left Binance-linked wallets; and the $3 billion figure was Binance's reported amount frozen. They measure different categories and should not be read as a definitive theft or customer-loss total.
Binance temporarily suspended deposits and withdrawals while conducting security checks, freezing funds and working with law-enforcement agencies, according to The Associated Press. AP also reported that Binance's initial investigation was examining whether a compromised DevOps engineer's laptop provided access to a service container and enabled unauthorized withdrawals. That was a preliminary investigative theory, not an established cause.
Binance said it found no evidence that wallet private keys were leaked and would use its Secure Asset Fund for Users and company funds to cover losses. In the same statement, Yi He said, "Binance will cover all hacking losses." Founder and former CEO Changpeng Zhao said, "User funds are safe! It does look like a hack on Binance."
For the $5.57 billion estimate, CoinDesk's on-chain analysis counted at least that amount leaving Binance-linked wallets across Ethereum, Bitcoin and Tron. The measure concerns identified wallet outflows, not confirmed theft or customer losses. CoinDesk said affected wallets appeared in Binance's October 1, 2026, proof-of-reserves data and estimated that removing approximately 204,500 ETH could have reduced ETH reserve coverage to roughly 94% until replenishment.
By the numbers
- $6.3 billion - Binance's estimate of assets involved in the incident
- $3 billion - amount Binance reported as frozen on-chain by October 30
- $5.57 billion - CoinDesk's estimate of assets that left Binance-linked wallets
Yes, but: The available figures are estimates and reported amounts across different measures. They may overlap and do not establish the final value of stolen assets or confirmed customer losses.
What's next: Binance said it was conducting security checks, freezing funds and working with law-enforcement agencies.