🔴 BREAKING | Billions Drained From Binance Hot Wallets; CZ: “It Does Look Like a Hack” Binance, the world’s largest crypto exchange, saw billions of dollars leave its hot wallets in an unusual outflow late Thursday, October 29. At 20:24 UTC, on-chain data shows the wallet known as “Binance 14” sent about 167,000 ETH, roughly 1.6 billion USDT and dozens of other tokens to a newly created address in a single transaction. Within minutes, other Binance hot wallets also sent funds to the same address. Early estimates put the outflow at around $2.8 billion. Some trackers say the total exceeds $5 billion once Bitcoin and Tron transfers are counted. Binance founder Changpeng Zhao (CZ) said on X that the incident “does look like a hack.” He added that user funds are safe and that he expects all losses to be fully covered. Binance said it is investigating and that customer funds remain completely safe. Stablecoin issuers Tether and Circle froze about $1.8 billion in USDT and USDC within the first hour. The stolen ETH and BTC cannot be frozen. Market reaction: • Bitcoin fell below $79,000 and Ethereum dropped under $2,240. • BNB slid about 6–7%. • More than $628 million in positions were liquidated in a single hour. If the full scale is confirmed, this would be the largest crypto hack in history, surpassing Bybit’s $1.5 billion breach in 2025.

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