Some suspicious cryptocurrency transfers happened and Binance had to suspend deposits and withdrawals on October 29, 2026. Company is investigating a possible security breach. The world’s largest crypto exchange, Binance, said that around $3 billion in related assets had been frozen by October 30 with the help of law enforcement and blockchain firms. Binance has promised to make up any losses, and says users’ funds are protected.
The suspected cryptocurrency theft could be worth more than $5.9 billion.
Blockchain analytics firm Chainalysis estimated the theft of about $5.9 billion in 2025 may have eclipsed the $1.5 billion Bybit theft. Binance has not confirmed who was involved, the total losses or how the attack was carried out.
Several crypto issuers are involved in the recovery efforts. Circle froze over $800 million and Tether nearly $1.57 billion in related assets. Ripple also chipped in and Arbitrum’s Security Council moved around $30.5 million of associated ARB and ETH into a restricted wallet.
Frozen assets are not the same thing as confirmed losses or recovered customer funds. Investigators have not yet determined the total amount of cryptocurrency that can be recovered and reported figures may overlap.
Bitcoin, BNB drop as security checks go on.
Bitcoin fell to a six-week low of $77,646 and Binance’s BNB token slumped more than 8% in the last 24 hours, according to Reuters post. Binance has not announced when withdrawals will resume, though its U.S. exchange, which is run separately, said it was not affected.
Customers are advised to refrain from participating in any suspicious recovery offer and to rely on official communication from Binance. Investigation by the exchange will provide a full assessment of the incident, including confirmation of unauthorized transfers, actual financial losses, and the circumstances of the suspected breach.