Binance Assembles Emergency Team of 100 to Respond to Hack

Binance has assembled an emergency response team of roughly 100 staff from multiple countries to address a hack that drained over $6 billion (about 8.01 trillion won) from Binance wallets across at least four blockchains, with total losses estimated at around $6.3 billion (about 8.41 trillion won). Bloomberg reported the attack began around 5 a.m. Korea time on October 30, and investigators found the attacker first tested malicious code with small amounts from an Ethereum account under their control before exfiltrating assets. The breach has raised internal concerns about its impact on year-end performance bonuses, though a Binance spokesperson said bonuses are not expected to be affected. The incident ranks among the largest crypto security events by dollar value, putting Binance's security posture and treasury controls under scrutiny. Key items to watch include the ongoing investigation with security firms, whether funds can be traced or frozen across chains, and any further disclosures on the attack's scope or recovery efforts.