Binance Probes Suspected $5.8 Billion Hack as Billions in Assets Are Frozen

1 / 3

Binance is investigating suspicious transactions involving wallets linked to the exchange after as much as $5.8 billion in digital assets was reportedly moved on October 29, 2026. The figure has not yet been independently confirmed as the amount stolen. Blockchain analysts said the suspected attacker may have exploited Ethereum’s EIP-7702 feature to redirect funds from a Binance-linked wallet. Some funds were reportedly routed through Tornado Cash, while investigators continue to trace the transactions and determine how the required wallet authorisation was obtained. Tether, Circle and Ripple have frozen billions of dollars in stablecoins connected to the incident. Binance says customer funds remain safe and fully covered, but it has not released a final account of the breach.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.