Largest Binance Hack: Fund Outflow Exceeds $5.6 Billion

A massive outflow of funds from wallets linked to the Binance exchange has exceeded $5.6 billion. On-chain analysis revealed suspicious movement of assets worth billions, which may indicate the largest hack in cryptocurrency history.

Distribution of withdrawn funds across major blockchains

• Ethereum: $3.53 billion
• Bitcoin: $1.5 billion
• Tron: $628 million
• Arbitrum, Optimism and Base: $38 million

In response to the incident, the Aave protocol took emergency measures to protect users. The platform froze lending markets to prevent the hacker from obtaining loans against the stolen assets.