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Binance Hacked for $5.8B, Binance Says User Funds Are Safe
If confirmed stolen, the amount would far exceed the $1.5 billion stolen from Bybit by North Korean hackers in February 2025, the largest confirmed crypto heist on record.
Key points from reporting:
* Binance is actively investigating a potential security issue. Co-CEO Yi He confirmed awareness of the reports. The company has stated that user funds are safe and that it will cover hacking-related losses.
* Changpeng Zhao (CZ) publicly said the activity "does look like a hack" and that he expects users to be made whole (while noting he no longer manages the exchange day-to-day).
* Significant freezes have already occurred (Tether froze over $1.5B USDT; Circle froze ~$823M USDC; other issuers also acted), totaling roughly $2.4–2.5B+ in frozen assets so far.
* The mechanism reportedly involved EIP-7702 delegation targeting Binance hot wallets, with large movements of ETH, BTC, USDT, USDC, and other tokens across chains.
* If the high-end figures hold after freezes and recoveries, then it would the largest ever