theft

Liquid Capital founder Yi Lihua stated that, based on the current situation, Binance's profits are sufficient to cover the losses from the recent theft, and there are no issues with asset security or liquidity, which is completely different from the FTX incident of the past. He believes that the core issue now is how trading platforms, including Binance, can prevent secondary theft.Market concerns are not just about the incident itself, but whether, in the AI era, the hacking capabilities have become unbalanced with the defense capabilities of trading platforms, and whether attackers have left other security vulnerabilities within the platform. He believes that trading platforms like Binance should provide users with detailed and reassuring security response plans.

According to BeInCrypto, Matt Hougan, Chief Investment Officer of the cryptocurrency asset management company Bitwise, stated that if a hacker attack of the same scale, amounting to $6.3 billion, had occurred ten years ago, it would have been enough to cause Binance to collapse.Matt Hougan mentioned that this is now considered a traditional cybersecurity incident and not a vulnerability of the Bitcoin blockchain itself, and it will not change the long-term trend of Bitcoin.

The United States Secret Service stated that investigators collaborated with industry partners within minutes after the incident to identify and freeze a large amount of stolen cryptocurrency, and the related investigation is still ongoing.

According to the on-site video released by the White House Rapid Response Team, U.S. President Trump stated in response to questions about the Binance theft case: "We are looking into the situation. We do not know if it was North Korea, but if it is, we will talk to North Korea about this matter."

According to a report from the Federal Bureau of Investigation (FBI), North Korea is responsible for the theft of over $6 billion in virtual assets that occurred around October 29 involving Binance. The FBI has referred to the related cyber activities as TraderTraitor.The FBI stated that it, along with the United States Secret Service and the Internal Revenue Service Criminal Investigation Division, has observed that the individuals involved primarily exchanged the stolen assets for ETH, and it is expected that further money laundering will occur through DeFi and instant exchange services.The three agencies have called on node operators, instant exchange platforms, DeFi services, and other virtual asset service providers to intercept and report transactions related to or originating from the addresses listed in the report.

According to Cointelegraph, Strive CEO Matt Cole stated that the approximately $6.3 billion theft from Binance has not changed his long-term investment judgment on Bitcoin. Considering the scale of the attack and the overall market weakness, the decline in Bitcoin's price was less than he expected, but it is still too early to determine whether the price has bottomed out. Currently, the price of Bitcoin is about $77,400, down about 4% from before the attack began on Thursday. Strive previously disclosed that as of October 23, it held 43,000 BTC.Cole compared this wallet attack to a bank robbery, rather than a failure of the Bitcoin network. Paul Chapman, the financial crime chief at Wirex, also emphasized that the attack targeted a company's system, not the Bitcoin network itself.Regarding future trends, Cole believes the market is in an "early spring" recovery phase, which may last another 6 to 9 months, with prices gradually rising rather than rapidly hitting new highs. He stated that this incident would not change his investment logic regarding Bitcoin over any reasonable time span.In terms of historical market reactions, after Bybit was attacked for $1.5 billion in 2025, combined with overall market volatility, Bitcoin fell from nearly $100,000 to about $95,000, a decline of about 5%. Additionally, according to CNBC citing Anchorage Digital data, in the past, after cryptocurrency trading platforms were attacked, Bitcoin's average decline in the first 24 hours was 8.3%.The investigation into the attack is still ongoing. Blockaid CEO Ido Ben-Natan believes that the attackers may have exploited Binance's trading signature process, as his analysis found a transaction containing 50 signature authorizations, with matching authorizations allowing the code controlled by the attackers to execute through the wallet. Binance stated that as of Friday, no evidence of wallet private key leakage had been found.

According to CoinDesk, Nasdaq-listed software company Next Technology Holding (NXTT) announced that its board has authorized the sale of approximately 5,833 BTC it holds, or to use these bitcoins as collateral for financing, valued at about $449 million based on the reported price.The company cited the theft from Binance, security vulnerabilities of trading platforms, and the potential threat of quantum computing to Bitcoin's cryptography as reasons for the decision, emphasizing that its bitcoins are not stored on Binance or held through Binance.The specific timing, price, and scale of the transaction will be determined by CEO Weihong Liu. The authorization allows for sales through trading platforms, private negotiations, or Bitcoin collateral financing, but does not guarantee that any transaction will ultimately be completed.NXTT closed on Friday with a market capitalization of approximately $7.8 million, and the disclosed value of its Bitcoin holdings exceeds 50 times the company's market value. The company's annual report stated that almost all bitcoins are held in custody by a Japanese institution, but the name of the custodian was not disclosed.

OKX's social media director, Haiteng, stated that some accounts are spreading the claim of "OKX being hacked," based on an on-chain transaction transferring funds from OKX to an "unknown wallet." He indicated that "unknown wallet" simply means that the on-chain monitoring platform has not yet identified the ownership of that address and does not imply that assets have been stolen; this transfer of 172 million USDT was an internal fund transfer conducted by OKX.Haiteng mentioned that OKX had previously issued a clarification through the same media channel, but there are still accounts interpreting normal on-chain transfers as hacker theft. He stated that when the industry faces security challenges, it is more important to collectively maintain trust rather than amplify panic with unverified claims.Haiteng also invited the on-chain monitoring platform Whale Alert to contact OKX, stating that the platform is willing to provide relevant address information to assist in improving labeling and reducing misunderstandings caused by unclear address ownership.

World Liberty consultant Ogle posted on platform X that it received a warning from the security company Blockaid, advising users to temporarily avoid visiting related websites or connecting wallets.According to the publicly available warning information, Blockaid stated that it has detected an active front-end attack related to the StepDrainer toolkit, involving Kintsu, Flap, and StonkBrokers. The affected sites have been injected with malicious scripts, and users clicking "connect wallet" may be redirected to a malicious asset theft page.Currently, Blockaid is investigating and gathering more information, and further updates will be announced later.

According to Bloomberg, U.S. President Trump stated that he is monitoring the Binance theft incident. In a live video from C-SPAN, Trump responded to reporters' questions on October 30 local time while meeting with an American citizen who had previously been detained by Russia in the Oval Office. When asked if the attack should be attributed to North Korean hacker groups, he said, "We don't know, we are investigating this matter."When asked if the stolen funds could be recovered, Trump stated that Binance claimed they would recover the funds and made assurances, "They said they have basically controlled the situation." He also mentioned that people can no longer see physical funds and that he has always felt this is "a bit dangerous."Binance experienced a security incident this week, affecting assets of approximately $6.3 billion, with on-chain analysis firms like TRM Labs attributing it to the North Korean hacker group TraderTraitor.

Zhao Changpeng responded to discussions regarding the scale of the theft at Binance and the reaction of BTC prices, stating that this $6.3 billion theft is the largest in terms of dollar value, but not when measured by the quantity of BTC. He cited the Mt. Gox incident, which involved 650,000 BTC, accounting for over 5% of the BTC supply at that time, emphasizing that assessing market impact cannot rely solely on dollar amounts.He believes that attention should also be paid to the number of affected users and the proportion of affected assets relative to user assets. According to him, in both the Mt. Gox and FTX incidents, nearly all users and their assets were impacted. The more critical issue is who ultimately bears the loss, whether the platform can fully cover it, rather than letting users suffer the losses.Zhao Changpeng stated that this incident remains a significant disaster for the industry, Binance, and himself, but they can withstand this shock. He emphasized, "The most important thing is that we protect our users."

The Federal Bureau of Investigation (FBI) responded to the Binance theft incident, stating that it is aware of the incident and is communicating with relevant partners to understand the scope of the activities and assess the potential impact.

Etherscan posted on platform X that it has launched a transaction flow page related to the Binance theft incident, covering transaction flows on Ethereum, Arbitrum, Optimism, Avalanche, Base, and Polygon chains. The data references multiple on-chain analyses from ZachXBT, Blockaid, Lookonchain, and others.

According to CoinDesk, Nicolas Quatravaux, head of Paradigm EMEA, stated that in the Binance theft incident, the first large-scale Bitcoin put option block trade was executed at 04:38 on October 30, about 15 minutes after the first outflow of funds from the Binance wallet, at which time the news had not yet been made public.This transaction involved the purchase of 250 put options expiring on October 31 with a strike price of $78,000, with a nominal value of approximately $20 million. Three minutes later, another transaction of the same scale for similar options was executed, with the buyer paying about 35% more.Within 8 hours after the incident, Paradigm executed approximately $590 million in nominal value of Bitcoin option block trades, about half of the same period's Deribit Bitcoin option block trading volume, primarily consisting of put options. The hour with the most active trading also occurred before Binance released its statement, including two transactions of 1,000 BTC each for put options expiring in mid-November with a strike price of $74,000, with a total nominal value of approximately $155 million.Quatravaux pointed out that buying was mainly concentrated in the near strike price range of $74,000 to $78,000, mostly expiring this week and in mid-November.

According to a report by Reuters citing informed sources, Binance is cooperating with law enforcement agencies around the world, including the Federal Bureau of Investigation (FBI) and the United States Secret Service (USSS), to investigate the theft of approximately $6.3 billion in cryptocurrency.The U.S. Embassy in London stated that it would not comment on the matter, and the United States Secret Service has not yet responded to requests for comment.

Binance customer service representative Sisi responded to community questions on social media, stating that this attack was not an event that could be completed through a single device; the starting point of the attack was a compromised employee's computer. Attacks on cryptocurrency institutions are usually highly targeted, and attackers often attempt to use complex methods to implement infiltration. Binance has discovered important clues related to the incident and has taken measures to control risks. Relevant investigations and tracing are still ongoing, and the platform's core risk control and emergency mechanisms have been activated.Regarding whether the engineer's permissions are too extensive, Sisi stated that this is not an incident where the attacker could directly use a specific engineer's permissions to complete a fund transfer, nor is it the result of a single person being able to operate with one click; the related anomalies involve a more complex attack process. At this stage, the investigation has not attributed responsibility to any individual, and the company will assume corresponding responsibilities while continuing to promote subsequent handling and security upgrades.Currently, there is no evidence of wallet private key leakage. The total losses from this incident will be fully borne by the SAFU fund and company funds, with no need for users to bear any costs. Approximately $3 billion in affected assets have been frozen on-chain, and Binance is cooperating with law enforcement and blockchain intelligence agencies to trace the funds, which are publicly traceable on-chain. Deposits are fully open and unaffected; withdrawals have been suspended as a precautionary measure and are expected to reopen within 48 hours, with specific timing subject to official announcements. Binance will continue to update progress while ensuring the accuracy of the investigation and will publish detailed information and further security reinforcement measures after the incident is handled and reviewed.

Crypto KOL Crypto Brave (@cryptobraveHQ) analyzed that the loss from the Binance hack may be around 3 billion dollars, and Binance could earn back the stolen funds in less than a year.It cited estimates from third parties such as Forbes, stating that Binance's revenue for 2024 and 2025 is approximately between 16 billion to 17 billion dollars each year. Based on a profit margin of half (Coinbase's latest data is about 59%), the annual profit is around 8 billion to 8.5 billion dollars, making the 3 billion dollar loss roughly equivalent to more than half a year's profit.Based on the calculation of BNB destruction in 2025 being about 4.4 billion to 4.5 billion dollars, the 3 billion dollar loss is approximately equivalent to 8 to 9 months of destruction amount.