Crypto platforms tightened security after the Financial Times reported a $6.3 billion theft from Binance, while Binance said its hot wallets had been compromised and that it was containing the incident, BlockBeats reported.
Platform responses
Coinbase Chief Security Officer Jeff Lunglhofer said the company made partial cold-storage adjustments as a precaution. The report said Gemini added transfer warnings and restrictions, while Kraken monitored the situation and said its services were operating normally.
Binance investigation
Binance said it revoked affected authorizations and added controls after finding that an engineer’s laptop had been compromised, with additional breach points later identified. Withdrawals were suspended and the platform estimated restoration in about 34 hours. Binance’s update put the loss at about $6.3 billion in token assets and said the company would bear the loss rather than customers.
The $6.3 billion figure is an official estimate reported by Binance and the Financial Times, not an independently audited or judicially confirmed final loss. Sources: BlockBeats English flash and Binance’s incident update via FxTwitter, published October 31, 2026.