Binance Hit by a $6.3B Security Nightmare: Nikita Bier Mocks CZ, While ZachXBT Spots a Bigger Threat

On October 29, Binance suffered a security incident that the exchange estimated at about $6.3 billion in impact, with unauthorized outflows traced across multiple blockchains. Its preliminary investigation points to a compromised DevOps engineer’s laptop that may have let an attacker access a service container and submit unauthorized withdrawals; Binance said it found no evidence of a private-key leak. Tether froze more than $1.567 billion in USDT and Circle over $800 million in USDC, while Binance’s reported frozen total approached $3 billion. CZ, no longer running Binance but a major shareholder, said it looked like a hack and expressed confidence users would be covered; co-CEO Yi He said losses would be absorbed through the SAFU fund and company resources.