Ari Redbord

Money Moves

Assessing the hack on-chain

Binance, the world's largest cryptocurrency exchange, lost about $6.3 billion in digital assets on October 29, by its own estimate, when an attacker drained its hot wallets across at least ten blockchains, most of it in roughly 20 minutes. It is the largest crypto theft on record — about four times the size of the $1.5 billion Bybit hack in February 2025.

Updated 2 hours ago