Binance Hacked Funds: A Full Breakdown — Which Assets Will Continue to Be Dumped?
- Core Viewpoint: Binance's hot wallet was hacked, with total outflows of approximately $5.64 billion to $6.26 billion across 9 chains; some stablecoins have been frozen by issuers totaling about $2.54 billion, and the attacker still holds approximately $3.3 billion in equivalent assets, with BTC and ETH constituting the main potential selling pressure.
- Key Elements:
- The attack occurred at 4:00 AM Beijing time on October 30, with total outflows from Binance's hot wallet of $5.64 billion to $6.26 billion across 9 chains.
- Some stablecoins including USDC, USDT, and WLFI have been frozen by their issuers, totaling approximately $2.54 billion.
- The attacker still holds approximately $3.3 billion in equivalent assets, including 18,270 BTC ($1.44 billion) and 467,000 ETH ($1.06 billion), which have not yet been laundered.
- He Yi stated that user funds are safe, Binance will bear all losses, and the platform has suspended deposits and withdrawals while cooperating with law enforcement investigations.
- The attacker's strategy is to convert freezable assets into non-freezable assets, with ETH being the only asset still "growing."
- The attacker still holds approximately $180.3 million in altcoins, with the real potential selling pressure mainly coming from BTC and ETH.
Original | Odaily@OdailyChina）
Author | Express Knight@Odaily
At 4:00 AM Beijing time on October 30, Binance's hot wallet was hacked, with total outflows of $5.64 billion to $6.26 billion across 9 chains. Currently, some stablecoins including USDC, USDT, and WLFI have been frozen by their issuers, totaling approximately $2.54 billion; the attackers still hold approximately $3.3 billion in equivalent assets, of which 18,270 BTC ($1.44 billion) and 467,000 ETH ($1.06 billion) have not yet been laundered.
Binance co-founder Yi He stated that user funds are safe and Binance will bear all losses caused by this hack. Currently, the platform has temporarily suspended deposits and withdrawals to allow the security team to conduct security checks, freeze related funds, and cooperate with law enforcement. Yi He said that after the investigation is complete, Binance will publish a full incident review report and reminded users to obtain the latest updates only through Binance's official channels.
Odaily compiled multiple reports and on-chain monitoring data to summarize the distribution of some of the stolen funds.
1. Attack Timeline
2. Distribution by Chain
3. What Was Frozen?
Chain-Level Freezes
4. What Was Traded
Sales That Have Occurred / Are Underway
ETH is the only asset that is "growing." The attackers' strategy is clear: convert what can be frozen into what cannot be frozen.
Altcoins Still Held (approximately $180.3 million, per Lookonchain)
5. How Much Money Does the Hacker Still Have
The real potential selling pressure actually comes from BTC and ETH.
