Hacking News
Crypto’s largest theft on record sees $5.57 billion drained from Binance-linked wallets
At least $5.57 billion was removed from Binance-linked wallets across Ethereum, Bitcoin and Tron, with Binance later estimating the total impact near $6.3 billion. Stablecoin issuers responded quickly, with Tether freezing over $1.5 billion, Circle $823 million and Ripple $200 million. The stolen funds appeared in the exchange’s October proof‑of‑reserves, including roughly 204,500 ETH, about 5.6% of its ether reserves, and Binance said user funds are safe and it will cover all losses. Bitcoin fell to $77,916, down 4.6% for the week, while Ether dropped 7.4% and total altcoin market value briefly slipped below $1 trillion. Polymarket paused trading after a $2.65 million exploit through a third‑party provider.