Binance halts withdrawals amid security review as attacker dumps stolen altcoins
Binance has paused withdrawals while conducting security checks after an apparent exploit, while on-chain data shows the attacker actively liquidating millions of dollars in stolen tokens into Ether.
Binance announced that withdrawals will resume "as soon as the security issue is fully resolved," assuring customers that user funds remain safe while its team carries out security checks. Co-founder Changpeng Zhao stated that the exchange may have been hacked, while maintaining that user assets were secure.[11][1][5][4]
The operational freeze followed on-chain signs of a massive security breach. According to on-chain intel account Solid Intel, the exploiter shifted from transferring funds to active liquidation, selling 1.2 million UNI on Uniswap alongside its first PEPE sale, and trading 96.94 WBTC for 3,210 ETH. Additional reports from Kalshi Crypto and Crypto Banter tracked the hacker dumping tokens including PEPE, UNI, and LINK to acquire ETH, while Solid Intel warned that more than $180 million in remaining altcoins—including sizable positions in ENA, PEPE, and LINK—could face ongoing selling pressure.[6][2][7][3]
An Arkham Intelligence portfolio labeled "binance-hacker-1029" showed holdings of roughly $5.89 billion across 63 addresses, according to data shared by Crypto Rover. Cointelegraph reported that about $2.4 billion of the stolen funds had already been frozen, while Solid Intel noted that Binance began moving assets from potentially vulnerable wallets into cold storage.[8][10][9]
Key facts
- Binance stated withdrawals will resume as soon as its security issue is fully resolved and that user funds remain safe.
- Binance co-founder Changpeng Zhao acknowledged the exchange may have been hacked but stated customer funds were safe.
- The Binance attacker began liquidating altcoins into ETH, including selling 1.2 million UNI on Uniswap and 96.94 WBTC for 3,210 ETH, per Solid Intel.
- Solid Intel reported the exploiter still held more than $180 million in altcoins, including $39.51 million in ENA, $34.41 million in PEPE, and $28.07 million in LINK.
- An Arkham portfolio associated with the exploit showed approximately $5.89 billion across 63 addresses, according to Crypto Rover.
- Approximately $2.4 billion of the stolen funds had been frozen, according to Cointelegraph.
- Solid Intel reported that Binance is transferring funds from potentially affected wallets into cold storage.
Sources · 9 sources
- WG
Watcher.Guru@WatcherGuruPost on X ·
JUST IN: Binance says "user funds remain safe" following major hack. "Withdrawals will resume as soon as the security issue is fully resolved."
Open source - SI
Solid Intel 📡@solidintel_xPost on X ·
INTEL: Binance exploiter continues dumping altcoins for ETH, selling 96.94 WBTC ($7.6M) for 3,210 ETH In what is becoming the largest crypto hack in history, the attacker still holds millions of dollars in altcoins that could face massive selling pressure: ENA: $39.51M PEPE: $34.41M LINK: $28.07M AAVE: $15.9M UNI: $12.62M ARB: $11.54M ONDO: $8.52M WLD: $6.73M FUN: $6.29M ZAMA: $6.02M ZRO: $5.69M RSR: $5.02M More than $180M in altcoins remain in the attacker’s hands. Every token on this list could face another wave of selling as the exploiter continues converting assets into ETH.
Open source - CB
Crypto Banter@crypto_banterPost on X ·
🚨BINANCE ATTACKER LIQUIDATING STOLEN ALTCOIN HOLDINGS! On-chain data shows the suspected @binance attacker liquidating stolen tokens, with transfers of over 7M $UNI, 7.77T $PEPE, 217M $ENA, and the full 29,934 ethereum:0xa2e3356610840701bdf5611a53974510ae27e2e1 position.
Open source - BL
Bloomberg@businessPost on X ·
Changpeng Zhao, the co-founder of Binance, said that the world’s largest crypto exchange may have been hacked but that user funds were safe https://t.co/vynkFprZbK
Open source - DN
DEGEN NEWS@DegenerateNewsPost on X ·
NEW: @binance SAYS WITHDRAWALS WILL RESUME "AS SOON AS THE SECURITY ISSUE IS FULLY RESOLVED" "USER FUNDS REMAIN SAFE" https://t.co/CZwS44pfhy
Open source - SI
Solid Intel 📡@solidintel_xPost on X ·
INTEL: Binance attacker is liquidating stolen altcoin holdings - 1.2M UNI sold through Uniswap - First PEPE sale reported - $116M in ENA and wBETH moved to new wallets - $88.5M in RLUSD transferred to new wallets The attacker appears to be moving beyond wallet transfers and into active liquidation, potentially increasing selling pressure across affected tokens.
Open source - KC
Kalshi Crypto@Kalshi_CryptoPost on X ·
JUST IN: Binance hacker is now dumping $PEPE, $UNI and $LINK to buy $ETH
Open source - CR
Crypto Rover@cryptoroverPost on X ·
JUST IN: The Binance hacker is dumping $PEPE, $UNI, $LINK, $ONDO and other cryptocurrencies for $ETH. The hacker is still holding hundreds of millions in altcoins, potentially increasing selling pressure. Binance user funds remain safe, and losses will be covered. https://t.co/0lBJWsNcFI
Open source - SI
Solid Intel 📡@solidintel_xPost on X ·
INTEL: Binance is moving funds from all potential hacked wallets to cold wallets
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🚨 INSIGHT: After every major crypto hack, $BTC has gone on to new highs Mt. Gox (2014): $BTC roughly halved. It hit $19.7k by 2017, nearly 100x off its post-collapse low. Bitfinex (2016): $BTC fell ~20%. It was back above pre-hack levels within 3 months and hit new all-time highs in 2017. Coincheck (2018): The hack hit during the 2018 bear market. $BTC climbed from its $3.1k bottom to $29k by the end of 2020, then reached $69k in 2021. Binance (2019): $BTC dipped ~4%. It rallied ~136% in just 7 weeks. FTX (2022): $BTC fell ~22% in a week to ~$15.5k. It was up ~134% a year later and hit a new ATH of $73.7k by March 2024, ~375% off the low. Bybit (2025): The largest hack on record at the time. $BTC dipped ~5%, hit a new ATH exactly 3 months later and went on to $126k, ~70% above its 2025 low. Binance (2026): $BTC is down ~3% so far, Binance says user funds are SAFU, and ~$2.4B of the stolen funds is already frozen. Not financial advice, and past performance doesn’t guarantee future results. But the pattern speaks for itself.
Open source - SO
SolanaFloor@SolanaFloorPost on X ·
NEW: @Binance says withdrawals will resume once the security issue is fully resolved, with security checks underway. The exchange says, “User funds remain safe.” https://t.co/9LwJ9Xoowq
Open source