DeltaSignal Research
The Binance Hack, in Full
Abstract
On October 29, 2026, about $6.3 billion left Binance in roughly twenty minutes, across ten blockchains: the largest crypto theft on record. Binance’s proof of reserves showed the money was there. It could not show who was able to move it. This report is the full record: the money taken, frozen, converted, and still held, chain by chain, with the conflicting totals printed side by side and their owners named; how the signing failed; how the freezes work, and which frozen dollars can legally come back; and where the stolen Bitcoin sits now. Two checks remain: withdrawals reopen in phases from Sunday, November 1, and the full zero-knowledge proof of reserves is estimated for Tuesday, November 3.
Inside the report
- The money, chain by chain: what left, where it went, and what is frozen
- The timeline: twenty minutes on October 29, and the days that followed
- How the signing failed: one engineer’s laptop and the withdrawal service
- How the freezes work: Tether, Circle, and the partner freezes
- Replaced, not returned: Binance’s own money and the $6.34 billion set aside
- The tripwires: what to watch, and the two checks, November 1 and November 3
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