bitcoin
Massive $5.9 Billion Binance Hack Hits XRP, BTC, ETH and Other Tokens
Binance, the world's largest crypto exchange, has been hit with a massive security breach.
Blockchain analysts believe the hackers have stolen nearly $6 billion in crypto from wallets linked to the exchange. According to blockchain analytics firm Glassnode, the suspected hack initially involved crypto worth $5.3 billion. The hackers made some of the biggest transfers out of the crypto exchange, including an estimated $1.66 billion in Tether (USDT), 17,985 Bitcoin (BTC) worth about $1.45 billion, and $767 million in USD Coin (USDC).
Other crypto tokens involved in the suspected hack included Ethereum (ETH), XRP, Solana (SOL), and Tron (TRX). According to Glassnode, the suspicious outflows occurred sequentially across various blockchains. XRP transfers came first, followed by SOL, BTC, and others.
Glassnode also noted that the exchange's BNB balance wasn't touched. The total suspicious outflows are close to $5.9 billion. The total losses aren't known yet.
Analysts are sharing different estimates as they watch funds jump from one blockchain address to another. Changpeng Zhao (CZ), Binance's co-founder and former CEO, acknowledged the apparent security breach. At the same time, he assured Binance's customers that they are safe.
"It does look like a hack on Binance," Zhao wrote on X. It does look like a hack on Binance.
