Binance halts trading after biggest-ever crypto hack

AxiosOctober 30, 2026en

Crypto exchange Binance is investigating what could be the biggest crypto hack in history as users saw upwards of $5.7 billion in funds drained from wallets Thursday afternoon. Why it matters : The suspected hack comes after a wave of high-profile cyberattacks and data breaches during so-called "Black October," when a series of hacks and AI -discovered bugs triggered fears of a global crisis. Driving the news: Binance co-founder Yi He said on X that the crypto exchange had suspended deposits and withdrawals after a hack. "User funds are safe," she wrote. "Binance will cover all hacking losses." Analysts and traders who follow the crypto markets closely estimate that $1.7 billion to $5.7 bill

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