An apparent breach of Binance has sent shockwaves through the crypto market after on-chain analysts estimated that approximately $5.643 billion in assets flowed out of Binance-labeled wallets by 21:22 UTC on October 29, 2026.
According to shared on-chain analysis, the outflows included $3.528 billion from Ethereum, $1.449 billion from Bitcoin, and $628 million from the Tron network. Around $38 million in outflows were also detected across Arbitrum, Optimism, and Base. The analysts said change transactions were excluded and subsequent transfers or exchange transactions were not double-counted.
Binance founder Changpeng Zhao and official exchange channels confirmed the hack, though the company has not publicly disclosed the total amount stolen. Initial reports had suggested roughly $2.53 billion in assets across more than 60 tokens had been drained from Binance’s Ethereum hot wallet.
In a notable market reaction, attackers purchased a large amount of TRX on the Tron network, reportedly to bypass a potential network blockage. That activity sent TRX’s price soaring during the hack.
Stablecoin issuers Circle and Tether froze approximately $1.8 billion in assets linked to the incident. The event underscores the security risks facing major centralized exchanges and has raised fresh concerns about cross-chain laundering and emergency asset freezes.
