{
  "id": 17159755,
  "title": "Crypto platform Binance confirms major hack, more than US$2.5 billion frozen",
  "url": "https://urgent.news/2026/10/30/crypto-platform-binance-confirms-major-hack-more-than-us-2-5-billion-17159755",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-30T01:45:00.000Z",
  "source": {
    "name": "Channel News Asia",
    "slug": "channel-news-asia",
    "url": "https://www.channelnewsasia.com/world/cryptocurrency-binance-hack-funds-losses-6505586"
  },
  "original_language": "en",
  "account": "New York - Cryptocurrency exchange Binance disclosed on Thursday that it suffered a significant hacking incident, freezing over US$2.5 billion in user funds. The platform, which dominates global crypto trading volumes, issued mixed messages on X, asserting user fund safety while pledging to cover losses.\n\nBlockchain analytics firm Chainalysis estimated the stolen amount at approximately US$5.912 billion at the time of the theft, nearly quadrupling the largest-ever cyberattack in February 2025, which saw US$1.5 billion stolen from Bybit. The exact nature of the cyberattack remains unclear, and Binance offered no explanation.\n\nFormer Binance CEO Changpeng Zhao and Tether CEO Paolo Ardoino expressed concerns that total losses could exceed US$1 billion. Circle CEO Jeremy Allaire revealed that his stablecoin company had frozen over US$800 million in USDC.\n\nThe US Department of Justice and FBI have not yet commented on the matter. Cryptocurrency prices plummeted in the hours leading up to the confirmation of the hack, with Bitcoin down nearly 5%, Ethereum down six%, and BNB falling 10%.",
  "summary": "The company posted a series of sometimes contradictory messages on X, insisting that \"user funds are completely safe\" but also saying it would \"cover all losses\".",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Straits Times Business",
        "title": "Crypto platform Binance confirms major hack, more than US$2.5 billion frozen",
        "url": "https://urgent.news/2026/10/30/crypto-platform-binance-confirms-major-hack-more-than-us-2-5-billion",
        "published": "2026-10-30T01:59:36.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}