Biggest Crypto Hack Ever? Binance Joins the List of Exchange Hacks

At about $2.8 billion, the suspected Binance hack of October 29, 2026 would be the largest theft ever suffered by a crypto exchange. The previous record belonged to Bybit with about $1.5 billion in February 2025. Unlike then, most of the loot is already frozen this time: Tether and Circle have blocked stablecoins worth about $2.4 billion. Binance says it is investigating reports of a potential security issue, co-founder Changpeng Zhao says it does look like a hack. We place the case in the line of major crypto hacks and explain why exchanges are hit more and more often.