Binance wallet outflows could place incident among the largest crypto hacks on record
Binance said at 07:22 Taipei time on Oct. 30 that the verified amount frozen so far stood at $2.54 billion after large transfers were detected from a hot wallet earlier that morning. Where the incident ranks among the biggest crypto thefts depends on which figure is used. Using gross outflows, the event already exceeds the $1.436 billion loss figure tracked by rekt.news for the Bybit hack in February 2025. Using a higher on-chain estimate cited by The Block, roughly $5.8 billion, it would even surpass the roughly $3.5 billion value assigned here to the 2020 LuBian mining pool theft at the time of the incident. If frozen assets are deducted, however, DefiLlama contributor 0xngmi estimated Binance’s loss at about $1 billion, which would place it behind LuBian and Bybit but ahead of Ronin Network’s $624 million. Binance has not formally confirmed a hack and has not published a final loss figure, so the ranking remains unsettled. The comparison in the source article draws on rekt.news and Crystal Intelligence data and also notes that several 2026 incidents had already entered rekt.news’s top 25 before the Binance case.
