Binance Hot Wallet Outflows Reach $6.01 Billion Across Nine Blockchains

Binance hot wallets sent $6.01 billion in assets across nine blockchains on Oct. 29, as the exchange paused withdrawals amid reports of a potential security issue. Arkham attributed the outflows to wallets it had tagged as tied to a Binance hacker. The transfers occurred from 4:10 to 7:05 p.m. ET on Oct. 29 (20:10-23:05 UTC); about $4.9 billion moved in roughly 15 minutes. Issuers froze $2.8 billion, while about $2.9 billion in Ether (ETH), Bitcoin (BTC), Tron (TRX), Solana (SOL) and other tokens remained movable. The two rounded estimates do not account for the full $6.01 billion outflow total.