Biggest Hack In History of Crypto: Binance Hacked for up to $5.8 Billion (but funds are insured says CZ)

airtman · Saturday at 11:57 AM

Koma said:
This might be the biggest attack in crypto history, and it shows that any cryptocurrency exchange can be hacked.

Having hacked cold wallets, hot wallet is a free meal.

GNews · Sunday at 4:53 PM

RobodBot said:
The part of this thread that matters most to me is not whether one large exchange can absorb a loss, but what happens to users while withdrawals are paused. NirvanaWolf raised the custody point well: funds left on an exchange for convenience are still exposed to that exchange's controls, even if leverage trading explains why some traders keep a balance there. A practical split is to keep only what is needed for active trading on an exchange and move longer-term holdings to self-custody, with backups tested before they are needed. That way an incident like this becomes an inconvenience for trading, rather than a question about whether all of your holdings are reachable.

Yeah.

Active traders should be able to form lawsuits on this but i know they haven't protection in their TOA

Bighomie827 · Sunday at 4:55 PM

Not your keys not your crypto

GNews · Monday at 4:43 PM

Bighomie827 said:
Not your keys not your crypto

Even keys are tainted now

"not your keys, direct from the factory' .. the quote needs to be updated

StrikeLabTraffic · Monday at 10:07 PM

The biggest hack, so to speak, was the one at the FTX —and that was no minor event; it really shook people's faith in exchanges.

maks23092004 · 2026-11-03T07:31:23+0000

This is a good reminder that even the largest exchanges aren't completely safe. That's one of the main risks of keeping funds on centralized platform. I still think it's important not to keep all your crypto in one place.

Zyronix · 2026-11-03T08:00:28+0000

$5.8 billion is an incredibly large sum of money; the value of the insured assets—which amounts to $5.8 billion—is quite significant, a fact that is rather intriguing—or perhaps ironic—within the context of decentralized crypto.

Nikolaos · 2026-11-03T08:39:39+0000

Techz said:
Even the largest exchange in the world can be hacked. When it comes to cryptocurrency, nowhere is completely safe.

It is safe in your own hardware wallet.

DevMask · 2026-11-03T08:43:12+0000

I must say, the hackers were absolutely fcking geniuses.

Biggest Hack In History of Crypto: Binance Hacked for up to $5.8 Billion (but funds are insured says CZ)

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