Inside the $5.8B Binance Hack: What’s Confirmed and What Isn’t

A suspected security breach at Binance has grown into a multibillion-dollar cryptocurrency emergency, with analysts tracking as much as $5.8 billion in potentially compromised assets across several blockchains. The exchange has suspended withdrawals while Tether, Circle, and other issuers have reportedly frozen more than $2 billion in tokens. Binance insists customer funds are safe, but investigators are examining how a sophisticated wallet-delegation maneuver may have enabled one of the largest cryptocurrency thefts ever recorded. The trouble began with a few lines of code and a wallet holding an extraordinary amount of money. On Thursday, Oct.