Binance Hacked: What Happened and What to Do Now

Binance was hacked on October 29, 2026. The exchange estimates about $6.3 billion was taken from its hot wallets, paused withdrawals and says it will cover user losses. You can't move funds out of Binance right now, but you can check your own account, your API keys and your inbox. Here is what is known and what to do.

At a glance

• What: unauthorized withdrawals from Binance hot wallets, about $6.3 billion by Binance's estimate.
• When: October 29, 2026, starting around 20:05–20:20 UTC.
• Cause, per Binance: a compromised laptop of a DevOps engineer. No evidence of a private key leak so far.
• Withdrawals: paused. Binance expects to resume them in about 45 hours (update of October 30, 08:37 UTC).
• Deposits: working.
• Losses: Binance says it will cover them from its SAFU fund and company funds.
• Your move: check your account security and ignore any "compensation" messages.

What happened to Binance?

On the evening of October 29, attackers moved funds out of Binance hot wallets on ten blockchains, most of it within about 20 minutes, according to blockchain analytics firm TRM Labs. Binance acknowledged the incident roughly two hours later and suspended withdrawals.

Binance's preliminary findings point to a compromised work laptop of a DevOps engineer. That gave the attacker access to an internal service that could submit withdrawals. On October 30, Binance said it had found additional breach points and that the investigation continues.

TRM Labs and Chainalysis link the attack to the North Korean group known as TraderTraitor. Binance has not confirmed this. For scale: the previous record was the Bybit hack of February 2025, about $1.5 billion.

Markets reacted the same day. CoinDesk reported bitcoin below $77,000 (down 4.8%), ether down 5.7% and BNB down 8%.

Is my crypto safe on Binance?

Binance says user funds will be covered in full. That is Binance's own commitment, not an independent audit, and the final numbers may still change. Binance has promised a full post-mortem once the investigation is over.

Two things are true at the same time. First, this breach started inside Binance, not in user accounts. Second, while withdrawals are paused, nobody can move funds out, so panic actions won't help. The useful thing to do now is to make sure your own account is not the next weak spot.

Binance hacked: what to do right now

1. Check login history and devices. In your Binance account, open the security section and review recent logins and devices. Unknown device or location? Log out of all sessions and change your password.

2. Check your order and transaction history. Look for trades, transfers or new withdrawal addresses you did not add.

3. Move 2FA off SMS. Use an authenticator app or a passkey. A SIM swap can steal an SMS code, but not an app code.

4. Set an anti-phishing code. Real Binance emails will show your code. An email without it is a fake.

5. Review your API keys. If you use trading bots, open API Management and check every key: reading and trading only, withdrawals off, access restricted to trusted IPs. Delete keys you no longer use. If you think a key leaked, revoke it first and only then create a new one. Our step-by-step guide: API key compromised? What to do immediately.

6. Ignore "compensation" messages. See the next section.

Security tips from the Bitsgap team

We connect trading bots to exchanges through API keys every day, so here is how that connection is protected, and where its limits are.

Bitsgap never holds your funds. They stay on your exchange account. That keeps your money out of our hands, but it also means exchange risk stays exchange risk. More on how keys work: Trade-only API keys: why your bot can't withdraw your funds and What is IP whitelisting.

Common scams after an exchange hack

Big incidents bring a wave of fake support. Watch for:

• "Compensation" or "refund" links that ask you to log in or connect a wallet.
• Fake support agents in DMs, Telegram or comments who ask for your 2FA code, password or API secret.
• Lookalike websites with one letter changed in the address.
• Calls from people who say they are from an exchange or a trading platform.

No real exchange or trading platform will ask for your password, 2FA codes, seed phrase or API secret. Type the exchange address yourself instead of clicking links, and check the anti-phishing code in every email. More: Types of crypto scams and how to avoid them.

What is still unknown

• The final amount stolen and how much will be recovered.
• When withdrawals fully resume.
• Whether the attribution to TraderTraitor will be confirmed.

Follow updates only on Binance's official website and verified accounts.

FAQ

Was Binance hacked? Yes. On October 29, 2026 Binance reported unauthorized withdrawals from its hot wallets, about $6.3 billion by its own estimate.

Is my crypto safe on Binance? Binance says it will cover all user losses from its SAFU fund and company funds. That is the exchange's statement, and the investigation is still going on.

When will Binance withdrawals resume? As of October 30, 08:37 UTC, Binance said it expected to resume them in about 45 hours.

Should I delete my API keys? No need to delete working keys if they are trade-only and IP-restricted. Delete unused keys, and revoke any key you think has leaked.

Can a bot withdraw my funds? Not through a trade-only key. Withdrawal permission is off, and Bitsgap rejects keys that have it.

Crypto trading involves risk. Figures are based on public statements by Binance, TRM Labs, Chainalysis, CoinDesk and Cointelegraph as of October 30, 2026, 08:37 UTC, and may change.