Binance Hack Fears Shake Crypto: $2.8B Outflows Reported

On Oct. 29, 2026, researchers flagged large transfers from Binance-labeled wallets, including 780 million USDC at 20:41 UTC from Binance: Hot Wallet 34 to address 0x5227f603C1eE34CE3C06eFe6477003BDfCCB2f8c. Etherscan also verified an earlier 20:24 UTC transaction involving Binance 14: about 167,464.2 ETH and 63 ERC-20 transfers, including roughly 1.6 billion USDT, to the same address. The Walter Bloomberg account reported $2.77 billion in outflows across five blockchains while calling the suspected hack unconfirmed; SolanaFloor cited almost $3 billion in movements and repeated that caveat, with no independent reconciliation. No Binance statement confirming a hack was visible, and the transfers alone do not establish theft or authorization. Crypto prices fell as reports circulated, with Bitcoin below $78,500 and Ethereum below $2,250.