A Tracing Firm Says $6.36 Billion Left Binance's Crypto Wallets in a Single Night
The blockchain-analytics firm TRM Labs says it has traced about $6.36 billion in cryptocurrency out of wallets belonging to Binance, the world's largest cryptocurrency exchange, on ten blockchains on Oct. 29, 2026.
TRM's figure is a trace of on-chain transfers, not a court finding, an audit or Binance's own accounting. The firm says that it followed every transfer from Binance-attributed wallets to addresses controlled by a single attacker and valued each one at the price of that asset at the moment it moved, and that most of the money left in about 20 minutes. TRM calls the total the largest crypto theft on record, about four times the amount taken from the exchange Bybit in February 2025.
About $2.7 billion of it has been frozen where it landed, TRM says: the stablecoin issuers Tether, Circle, Ripple and World Liberty Financial froze most of that sum, and Arbitrum's Security Council, which can take emergency action on its own network, pushed more of it out of the attacker's reach. Another $2.4 billion, held mostly as ether and bitcoin, is beyond any issuer's reach. Both figures are a status TRM recorded at 00:30 UTC on Oct. 30, 2026, not a settled outcome; freezes were still spreading and the funds were still moving as it published.
In TRM's account, Binance said it was investigating a potential security issue, temporarily suspended withdrawals on several networks and said user funds are safe. TRM says Binance has yet to publish a root cause, so how the attacker obtained valid signatures for wallets across those chains is not established. No court, regulator or law-enforcement body has published a finding on who moved the money, and TRM's report carries its own attribution, based on what the firm describes as on-chain and off-chain intelligence.
TRM says it is tracking the funds and has told exchanges and compliance teams to screen deposits against the attacker addresses it has labeled. Based on previous large thefts, the firm expects the money to move next through cross-chain bridges, swap services and over-the-counter brokers.
