Binance explained the techniques used in the cyber attack

Binance disclosed the technical details of the cyberattack it suffered on the night of October 29, 2026, which inflicted roughly $6.3 billion in losses and rattled the world's largest cryptocurrency market. The exchange's first public account of the breach followed initial reports of the heist, which shook confidence across crypto trading venues. The scale of the loss—about $6.3 billion—makes it one of the largest cyber thefts in crypto history and puts pressure on Binance's security controls and reserves. Investors will watch for further forensic updates from Binance, any reimbursement or insurance arrangements, and whether the incident triggers tighter regulatory scrutiny of exchange safeguards.