ICYMI: Binance Lost $6.3B Last Week in Largest Crypto Hack on Record. How It Unfolded

Binance suffered a $6.3 billion hack last week, the largest theft in crypto history. The events unfolded as follows. On Oct. 29, suspicious wallet transfers were flagged. Tether and Circle froze more than $2.36 billion. Binance paused withdrawals and pledged to cover all losses. Aave froze markets after the attacker borrowed $44.6 million. Total frozen assets reached $3 billion. Binance confirmed $6.3 billion was stolen. Initial findings pointed to a compromised laptop belonging to an engineer. Investigators linked the attack to North Korea-linked group TraderTraitor. Binance uncovered additional breach points. It reserved $6.34 billion to cover losses, including $5 billion in matching tokens. Blockaid warned that EIP7702 may have helped bypass safeguards. The FBI and Secret Service joined recovery efforts. Aave reopened markets and confirmed its contracts were unaffected. US politicians clashed over regulation. Binance reported 90% replenishment by Oct. 31 and 95% on Nov. 1. Binance began reopening withdrawals across 15 networks on Sunday. Binance reported $3.64 billion in net withdrawals in the first 9.5 hours of Sunday. On Nov. 2, Binance said withdrawal volumes were stabilizing.