The $6.3 Billion Binance Hack: How Hackers Stole Crypto in Just 20 Minutes
Quick Takeaways A major operational security failure: The reported attack involved compromised internal infrastructure and manipulated wallet authorisations, demonstrating how weaknesses beyond private-key theft can threaten digital assets. A multi-chain attack with a rapid outflow: Attackers reportedly used EIP-7702 authorisations and automated transactions to move billions in cryptocurrency across multiple blockchain networks within a concentrated 20-minute period. Asset freezes are not the same as recovery: The reported freezing of approximately $3 billion in assets highlighted the importance of cooperation between exchanges, blockchain networks and stablecoin issuers, while leaving questions about the remaining stolen funds The cryptocurrency industry has been shaken by what could become the largest digital asset theft in history. On 29 October 2026, attackers reportedly stole approximately $6.3 billion in cryptocurrency from Binance, the world's largest cryptocurrency exc...