Transfer volume is not the same as confirmed theft
Early blockchain tracking identified about 3.55 billion dollars in transfers from Binance-linked wallets. Later estimates placed the wider outflow at roughly 5.6 to 5.8 billion dollars across several networks.
Those figures measure wallet movement and do not by themselves establish the amount stolen. Analysts must separate internal transactions, funds still controlled by Binance and assets moved to addresses controlled by an attacker.
Deposits and withdrawals were temporarily suspended
Binance paused deposits and withdrawals while its security team checked the affected environment. The exchange said it was working with law enforcement, token issuers and blockchain intelligence companies.
Tether and Circle initially froze about 1.8 billion dollars in stablecoins. The tracked total later exceeded 2.38 billion dollars, and Binance said the verified value of all frozen assets had reached about 2.54 billion dollars.
Binance changed its message as the investigation developed
The exchange’s first public statement described a potential security issue and did not confirm whether customer assets were affected. A later update said user funds were completely safe.
Zhao, who no longer manages Binance, said the incident looked like a hack and expected all user funds to be fully covered. Binance has not yet published a final loss figure or a technical report.
The attacker and final damage remain unknown
Some observers have suggested the Lazarus Group may be involved, but that claim has not been confirmed by Binance or law enforcement. Attribution should remain separate from the verified wallet data.
Bitcoin fell below 79,000 dollars as reports spread. If the largest outflow estimates become confirmed losses, the incident would exceed the roughly 1.5 billion dollars stolen from Bybit in 2025, but that comparison remains conditional until the investigation is complete.
This article is for information only and is not investment advice.
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