Binance says customer funds are safe as investigators assess suspicious transfers. The widely circulated $5.8 billion figure remains unconfirmed as a theft total.

October 29, 2026 — Binance is investigating a potential security incident after reports of large cryptocurrency transfers from exchange-linked wallets. The company temporarily suspended deposits and withdrawals while conducting security checks, according to the Associated Press.

How Much Was Lost?

The final loss has not been established.

BleepingComputer reported that blockchain intelligence platform Arkham was tracking approximately $5.78 billion in assets across wallets associated with the suspected incident. However, that figure represents the holdings of tracked wallets and does not establish how much was stolen from Binance.

Billions in Assets Frozen

Binance reported that approximately $2.54 billion in funds had been frozen, according to AP. Freezing assets restricts their movement; it does not establish that the money has been returned or determine the exchange’s eventual net loss.

Reuters separately reported that Tether and Circle froze more than $2.38 billion in stablecoins. Binance co-founder Yi He also reported roughly $200 million frozen by Ripple. These figures describe overlapping responses to the same incident and should not be added to Binance’s total.

What Binance Has Said

Binance maintains that customer funds are safe. Founder Changpeng Zhao said the incident appeared to be a hack, although he no longer manages the exchange. Binance.US, a separate platform, said it was unaffected.

The investigation has yet to establish a verified total stolen, the final financial impact, or a confirmed explanation of how the suspected breach occurred. Binance has advised users to watch for scams and rely on official communications.

This is a developing story. Figures and operational status may change as additional information is verified.