Binance Hack: $6.4B Theft, SpaceX Shares, North Korea Link — SkimNews
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- Binance suffered a $6.4 billion cryptocurrency theft—the largest in history—across multiple blockchains on October 29, 2026, with funds moved via decentralized platforms like Uniswap and Aave.
- CZ asked Elon Musk to stop mocking Binance after the hack, noting the exchange holds SpaceX shares worth over $1 billion from its $500 million Twitter takeover investment.
- Yi He, Binance’s co-CEO, stated the company’s annual revenue is sufficient to cover the hack losses without selling its SpaceX holdings, responding to speculation about asset liquidation.
- CZ clarified he never suggested selling SpaceX shares, emphasizing they were mentioned only to demonstrate Binance’s financial resilience amid the crisis.
- TRM Labs and Chainalysis attributed the attack to TraderTraitor, a North Korea-linked hacking group also responsible for the 2025 Bybit breach, which stole $1.5 billion.
- Binance has reserved over $6.34 billion in company funds to cover the hack, including $5 billion in the same tokens stolen, with the remainder being acquired through market and OTC purchases.
Why it matters: Binance must absorb a record $6.4 billion loss without destabilizing its balance sheet, but its decision to retain SpaceX shares signals long-term confidence. The involvement of a North Korea-linked group raises geopolitical risks for crypto infrastructure, and Tether and Circle’s ability to freeze only $2.39 billion highlights systemic limits in recovering stolen assets on decentralized networks.
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