Ari Redbord calls Binance theft the largest bank robbery in history

Roughly $6.36 billion was drained from Binance hot wallets in about 20 minutes, with North Korea's TraderTraitor linked to the attack Crypto has seen big hacks before. This one has blockchain analytics firm TRM Labs reaching for a broader comparison. On October 29, 2026, approximately $6.36 billion in digital assets was drained from Binance’s hot wallets. TRM Labs’ Ari Redbord says this is no longer a crypto-sized story at all. “This isn’t the largest hack in crypto history, it’s the largest bank robbery in human history.” Twenty minutes, ten chains, billions gone The speed is the first detail that stands out. Assets left Binance’s hot wallets within roughly 20 minutes, beginning at approximately 4:05 p.m. ET. For context, hot wallets are the internet-connected wallets an exchange uses to process everyday withdrawals. The drain spanned at least 10 blockchains. Estimates of the total loss sit in a range of $6.3–6.4 billion, with the approximately $6.36 billion figure landing in the middle. The theft is roughly double the size of any previously recorded theft in crypto. The usual suspects, with a rehearsal The attack has been linked with high confidence to TraderTraitor, a North Kore...