Binance froze about $3 billion in crypto assets and halted deposits and withdrawals after a suspected security issue was reported on Thursday, 29 October 2026. The world’s largest cryptocurrency exchange said it was investigating the incident, as stablecoin issuers moved to freeze funds linked to the suspected breach.
Quick Reference Summary
| Item | Detail |
|---|---|
| Total frozen | About $3 billion |
| Tether | About $1.57 billion frozen |
| Circle | More than $800 million frozen |
| Ripple | About $200 million frozen |
| World Liberty | About $27 million plus about $2 million in tokens frozen |
| Arbitrum | 74.56 million tokens frozen |
| Bitcoin | Down about 5%, below $77,000 |
| Ether | About $2,239 |
How the freeze grew from $2.54 billion to $3 billion
The reported frozen total first stood at $2.54 billion and then rose to about $3 billion as more issuers acted. Reuters reported on the freezes by Tether and Circle after Binance reported the security incident, while Al Jazeera reported that $2.54 billion in crypto funds had been frozen amid the potential security issue. The increase reflects additional freezes identified as the investigation continued, rather than a single new announcement of a larger theft.
What Binance has and has not confirmed
Binance has confirmed that it halted deposits and withdrawals while it investigates a suspected security issue, and that about $3 billion was frozen. What it has not confirmed, on the information in this report, is the precise method of attack, the full list of affected wallets, or when deposits and withdrawals will resume. Readers should therefore treat the incident as suspected, rather than fully explained, until Binance gives a fuller account.
Market reaction
Crypto prices fell as news of the freeze spread. Bitcoin dropped about 5% to below $77,000, while ether traded at about $2,239. The sell-off came in a week already dominated by big technology results and interest-rate decisions: Microsoft and Alphabet earnings split the AI trade, and the Federal Reserve held interest rates at 3.75-4%. Against that backdrop, the Binance halt added a crypto-specific shock to broader market caution.
Firms reported as unaffected
Binance.US, Coinbase and Bybit were reported as unaffected firms in the context of this incident. That distinction matters for users trying to work out whether the freeze was exchange-wide across the industry or concentrated on Binance’s main global platform. It does not, by itself, guarantee that no other platform will later report an impact.
How this compares with previous large crypto incidents
By comparison, the Bybit incident in February 2025 involved about $1.5 billion, making the Binance freeze, at about $3 billion, roughly double that figure on a frozen-assets basis. A separate Chainalysis estimate of about $5.912 billion stolen is unverified and is presented here as an estimate only; it should not be treated as a confirmed total for this incident.
Frequently asked questions
What happened in the Binance hack in October 2026?
Binance reported a suspected security issue on Thursday, 29 October 2026, froze about $3 billion in assets and halted deposits and withdrawals while it investigated.
How much money was frozen?
About $3 billion in total, including about $1.57 billion from Tether, more than $800 million from Circle, about $200 million from Ripple, and about $27 million plus about $2 million in tokens from World Liberty, along with 74.56 million Arbitrum tokens.
Are Binance deposits and withdrawals halted?
Yes. Binance halted deposits and withdrawals while it investigates the suspected security issue. No resumption time is confirmed in this report.
What has Binance confirmed so far?
Binance has confirmed the freeze and the halt to deposits and withdrawals, but has not confirmed the precise attack method, the full list of affected wallets, or a timetable for resuming services.
How did crypto prices react?
Bitcoin fell about 5% to below $77,000 and ether traded at about $2,239 as markets reacted to the freeze.
Is this the largest crypto incident on record?
On frozen assets, about $3 billion is larger than the about $1.5 billion Bybit incident in February 2025. A Chainalysis estimate of about $5.912 billion stolen is unverified and is presented as an estimate only, so it should not be used as a confirmed record total.
Sources
Sources: Reuters and Al Jazeera.
