What smart people are saying about the Binance hack that siphoned away $6 billion in cryptoNEWS | 31 October 2026After hackers stole more than $6 billion in cryptocurrency from the exchange platform Binance on Thursday, crypto executives are racing to help the company while blockchain researchers examine the damage and assign blame.
Binance initially said one engineer's compromised laptop was the gateway to the attack, but the company later revised its assessment, saying the attack was broader in scope. Crypto stocks tumbled on Friday as a result.
In a video posted to X on Friday, Richard Teng, the co-CEO of Binance, said the attacker employed a "self-destruct mechanism" to hide their tracks, making Binance's investigation more difficult.
A Binance spokesperson said the company is working with law enforcement and would share a "detailed technical postmortem once the investigation is complete."
In another update from Binance on Friday afternoon, the company said it has stockpiled about 80% of the total stolen funds.
"We are actively buying the remaining relevant token assets through market and OTC channels," the company said.
Here's what smart people are saying about the Binance breach.Author: Truman Dickerson. Source
