Binance founder says suspected hack appears safe for user funds

Changpeng Zhao says Binance will fully cover any losses after billions flowed out of the exchange's hot wallets in under an hour Binance founder Changpeng Zhao says user funds are safe after a suspected hack drained an estimated $2.5 to $3.5 billion from the exchange’s hot wallets on October 29, 2026. He also says Binance will cover any losses in full. Blockchain analysts flagged the activity between 20:24 and 21:04 UTC. Large sums left Binance hot wallets during that 40-minute window, including ETH, USDT, and USDC . Several details made analysts suspicious.