Binance is in trouble: over $2 billion was transferred out of its hot wallet, and CZ himself said, "It was indeed a hack of Binance." $BNB
In a single transaction, 63 tokens were transferred out of Binance's hot wallet, Binance 14: around 167,000 ETH, plus roughly $1.6 billion in USDT. A hot wallet is where an exchange keeps funds for users to withdraw. The receiving address was created that same day, and its initial funding came from Tornado Cash. On-chain estimates from various sources put the total amount transferred between $2.5 billion and $2.8 billionโalready more than the roughly $1.5 billion stolen from Bybit in February 2025.
Tether first froze around $971 million in USDT, then Circle froze around $823 million in USDC, for a combined total of roughly $1.8 billion. BNB fell 6% in an hour to around $710, BTC dropped to 78,800, and ETH fell 3%. Binance's official account said only: "We are aware of reports of a potential security issue and are investigating."
CZ was more direct. He said user funds were safe, noted that he had stopped running Binance long ago, but added that as a shareholder, he expected all users to be made whole.