Developing story
Binance Withdrawal Pause and Tether Response to Outflows
Binance Withdrawal Pause and Tether Response to Outflows: 5 developments over 1 day, since 29 October 2026. Latest, 30 October 2026: Binance said on X that its investigation into a security incident has found additional points of breach beyond a compromised laptop, which it had earlier suggested might have been involved.
The story so far
Binance, the world's largest cryptocurrency exchange, began investigating a possible security breach on 30 October after onchain data showed large transfers out of its hot wallets 1. The exchange then confirmed a security incident, paused deposits and withdrawals, and halted trading on Binance Alpha 2. TRM Labs attributed the theft of roughly $6.3 billion to TraderTraitor, a North Korean hacking unit 3. Binance said the incident cost about $6.3 billion and pledged to cover all customer losses from its SAFU emergency fund and company money 4. It said on X that its investigation had found additional points of breach beyond a compromised laptop 56.
Binance described the incident as a complex attack and said it was working with law enforcement 5. Chainalysis said the hackers had used new automated laundering patterns 7. In the latest update, Binance said it had replaced 90% of the stolen cryptocurrency, up from about 80% previously 8. It said it remained on track to reopen withdrawals on Sunday 8.
Written automatically from the Oesnada stories in this timeline. Every number is checked against them. The numbers in brackets link to those stories.
Timeline
Also on our radarBinance Says It Has Covered 90% of Hack Losses With $6.34B+ in Company FundsReuters
Binance says it has replaced 90% of the cryptocurrency stolen in Thursday's roughly $6.3 billion hack, up from about 80% in its previous update, and that it remains on track to reopen withdrawals on Sunday, Nov. 1. The exchange says customer holdings of bitcoin, ether, USDT, BNB, SOL, USDC, XRP, USD1, RLUSD and ZEC are now fully backed. The remaining 10% is made up of less liquid tokens, which Binance says may take longer to buy in the needed amounts. It says it is acquiring them through public markets and over-the-counter trades, working with industry partners. The replenishment matters because the attack left a shortfall in the assets backing customer balances. A CoinDesk review of Binance's earlier reserve disclosures found that wallets drained in the attack were among those the exchange had listed as backing users' holdings. Binance says it will absorb the financial impact itself rather than pass it to users, drawing on corporate funds, futures reserves and SAFU, its emergency user-protection fund. It had already set aside more than $6.34 billion in company funds, including $5 billion held in the affected cryptocurrencies, separate from roughly $3 billion in stolen assets that partners had frozen. The exchange also published a proof-of-reserves snapshot, taken at midnight UTC on Oct. 31, showing coverage ratios of 100% or more for the named tokens. Part of the money came from a futures-related fund that normally covers losses from bankrupt trading positions and helps limit forced reductions in other traders' positions, known as auto-deleveraging. Binance says it moved only the portion above the required size and that the fund still meets its risk-management requirements. It has also committed to restoring SAFU to about $1 billion. Co-CEO Richard Teng said investigators found additional breach points beyond an initially suspected compromised employee laptop. Blockchain analytics firms TRM Labs and Chainalysis have attributed the attack to TraderTraitor, a North Korea-linked hacking group, while President Donald Trump said "we don't know" if North Korea was behind it and that the government is "looking at that.
Read at the sourceAlso on our radarChainalysis Says Binance Hackers Used New Automated Laundering PatternsFinancial Times
Binance, the world's largest cryptocurrency exchange, was hit by a $6.3bn hack late on Thursday that researchers describe as the biggest theft in history. Experts point to North Korea as the likely culprit. TRM, Elliptic and Chainalysis each attributed the attack to TraderTraitor, North Korea's elite hacking unit, with TRM saying it did so with "high confidence." Binance says it will cover all customer losses, has set aside $6.34bn for that purpose, and has frozen about $3bn of the affected assets. Analysts said the laundering patterns were "never-seen-before." The scale dwarfs the roughly $1.5bn stolen last year from a Dubai-based exchange, which the FBI also linked to North Korea. Elliptic says the regime has stolen more than $6.5bn in crypto in recent years, including over $1bn so far in 2026, favoring the asset because it can be taken in bulk and laundered. Bitcoin fell 5% to $77,380, its lowest level in six weeks, and analysts said the breach could weaken risk appetite and push investors to reconsider keeping assets on centralized exchanges, at a time when crypto was already under pressure from higher US interest rates and softer demand from exchange-traded fund buyers. Binance has suspended all deposits and withdrawals while it checks its systems. Binance said an initial investigation suggested the breach may have begun with a hacked laptop belonging to one of its engineers, which gave an attacker access to a system and allowed unauthorized withdrawals. It later said there were additional points of breach. Tether says it froze nearly $1.57bn in linked assets and Circle more than $800m, while Elliptic says the largest losses involved Ethereum, at $3.8bn. Binance.US and Coinbase said they were unaffected. The UK's Financial Conduct Authority says it is engaging with Binance, and the Bank of England is monitoring for any exposure among banks, insurers or fintechs, though it has no active concerns.
Read at the source- @binance
Binance Says Follow-Up Probe Found More Breach Points Beyond Laptop
Binance said on X that its investigation into a security incident has found additional points of breach beyond a compromised laptop, which it had earlier suggested might have been involved.
Also on our radarBinance Says Follow-Up Probe Found More Breach Points Beyond Compromised Laptop@binance
Binance said on X that its continuing investigation into a security incident has found additional points of breach beyond a compromised laptop, which it had earlier suggested might be involved. The crypto exchange described the incident as a complex attack and said it is working with law enforcement to resolve it. It added that it is still gathering facts and will share more directly once it has them. The company said outflows stopped when it paused its withdrawal service. Binance said it will cover all losses using its SAFU fund, an emergency reserve, along with the company's own funds. It also said it is working with partners to freeze many of the affected assets and has frozen around $3 billion so far. Binance said it remains on track to resume withdrawals in 45 hours, as previously expected. It said further updates will come through its official channels as more verified information becomes available.
Read at the source- MajorSouth China Morning Post
Binance to Cover All Losses from ~$6.3B Hack, Possibly Largest Crypto Theft
Binance, the world's largest cryptocurrency exchange by trading volume, has pledged to cover all losses from a hack it said drained about US$6.3 billion from its wallet.
- MajorReuters
TRM Labs Links ~$6.36B Binance Hack to North Korea-Based TraderTraitor
Hackers stole more than $6 billion in cryptocurrency from digital wallets held at Binance, the world's largest crypto exchange, in what analysts are calling the biggest crypto hack on record.
- TechCrunch
Binance Pauses Withdrawals as Hackers Suspected of Stealing Billions in Crypto
Binance, the world's largest cryptocurrency exchange, has confirmed it is dealing with a security incident after users reported funds leaving its wallets.
- The Block
Binance Probes Security Issue as $5.8B in Suspicious Outflows Prompts Tether,
Binance, the world's largest cryptocurrency exchange, is investigating a possible security breach after onchain data showed enormous transfers out of its hot wallets, the internet-connected wallets used for everyday withdrawals.
Topics in this story
Methodology and sources
Oesnada groups published stories into a developing story when a language model judges that they continue the same thread. The grouping is automatic and can be wrong. A thread gets a page once it has at least 3 developments spread over at least 2 different days. The one-line updates and the summary are written automatically from Oesnada stories only, and every number in them is checked against those stories.
Cite this page
Oesnada, "Binance Withdrawal Pause and Tether Response to Outflows", https://oesnada.com/storylines/binance-withdrawal-pause-and-tether-response-to-outflows, accessed 31 October 2026.