On October 29, 2026, roughly USD 6.36 billion in cryptocurrency was transferred from Binance wallets across ten blockchains, making the incident the largest crypto theft recorded. Most of the funds moved within about 20 minutes, with additional transfers later that evening. TRM attributes the attack with high confidence to TraderTraitor, North Korea’s elite hacking unit, citing similarities to earlier North Korea-linked heists, including advance preparation, small Tornado Cash withdrawals, and signatures arranged before the theft. Binance confirmed a security incident, suspended withdrawals on several networks, and said customer funds were safe.
The Ethereum attack used 50 pre-signed EIP-7702 authorizations to give an attacker-controlled contract sweeping control of a Binance hot wallet; other compromised wallets sent ordinary signed transfers across multiple chains. Because valid transactions came from wallets using different signing systems, TRM assesses that the attacker likely accessed Binance’s hot-wallet signing infrastructure, though Binance had not disclosed a root cause. Ethereum accounted for about USD 3.79 billion of the stolen value, with major losses also involving Bitcoin, Tron, XRP, and Solana. Stablecoin issuers and Arbitrum froze approximately USD 2.7 billion, while the attacker raced those interventions by selling USDT and borrowing ETH. More than 420,000 ETH and 18,270 BTC - about USD 2.4 billion - remained beyond issuers’ freezing powers as tracking and investigation continued.
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