Is Binance Being Hacked? $2 Billion Outflow Puts Customer Funds in Question

More than $2 billion in Ethereum and tokens moved out of Binance hot wallets, which are kept online to pay withdrawals, on Thursday, October 29, to an address created hours earlier and funded through Tornado Cash, a mixing service that hides coin origins. One transaction sent 167,464 ETH, worth about $388 million, and 63 tokens from Binance 14. Within 15 minutes, the receiving address forwarded 195,460 ETH, about $450 million, to another fresh address and still held about $1.5 billion in tokens. Binance has not said whether customer deposits are at risk; Tree News estimated the outflow at about $2.53 billion and called it a suspected key compromise, meaning another party may control the wallet.