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5 Viewsยท 10/30/26ยท Crypto News

The Binance Hack | Explained.


Jim Watts
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How Binance Lost $5.8 BILLION | The Largest Crypto Hack Ever.
The binance crypto hack, North Koreans, Laptop, Bitcoin, Aave, Pepe, Binance, Ethereum, EIP,
Binance suffered a massive hot wallet heist via compromised EIP-7702 authorizations, with outflows of $3.3Bโ€“$5.8B. Tether and Circle swiftly froze ~$2.5B in stablecoins, leaving net unrecovered losses around $1Bโ€“$1.2B (largely swapped into ETH). Binance paused withdrawals, stated user funds are safe and covered by reserves, and suspicions point toward North Korean state-backed hackers.

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Jim Watts

2 hours ago
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