Binance shareholder demands answers after $6.3 billion hot wallet breach

An investor wants the exchange to explain the hack, own the failure, and tighten security after one of crypto's largest thefts A Binance shareholder wants the world’s best-known crypto exchange to do three things: explain the hack, accept responsibility for it, and fix its security. The demand follows an October 29, 2026 breach in which Binance lost approximately $6.3 billion from its hot wallets. That puts it among the largest security failures the crypto industry has ever recorded. What happened inside Binance Funds were drained across roughly 10 blockchains in about 20 minutes. Initial investigations pointed to a compromised laptop belonging to a DevOps engineer. That device reportedly gave the intruders access to the services that sign wallet transactions. Later analysis painted a bigger picture. The intrusion was not a one-off slip but a multi-month campaign. It reportedly combined social engineering, malware infiltration, and misuse of Binance’s own internal AI tools. The FBI has attributed the attack to TraderTraitor, a North Korean group linked to prior attacks by the Lazarus group. How Binance is responding Binance co-CEOs Richard Teng and Yi He have committed to covering ...