Morning Minute: The Binance Hack Leads to Mass Outflows while FBI Opens Probe

GM!

Today’s top news:

• Crypto majors chop over weekend in Binance hack aftermath; BTC at $77.6k
• Binance turns on withdrawals post-hack, sees $3.64B exodus
• FBI and Secret Service open probes into Binance hack
• BTC ETFs lose $643M in outflows on Friday, flip October to red
• Nvidia and Micron added to list of companies objecting to tokenized shares on OKXICE, now at 50

$81.8k$80.1k$78.4k$76.7k

24h HighHigh$78,728

24h LowLow$77,599

VolVol$677.3M

💸 The Binance Hack Just Cost Bitcoin ETFs Their Whole Month

Through Thursday, October was a quiet, slightly positive month for Bitcoin ETFs. Then North Korea took $6.4 billion out of Binance five minutes after the closing bell, and Friday’s single session erased the entire month.

To recap the Binance hack, attackers drained roughly $6.4 billion from Binance’s hot wallets across about 10 blockchains, with most of it inside 20 minutes on Thursday afternoon. That’s more than four times the old record, the $1.5 billion Bybit theft in February 2025. Both firms attribute it to TraderTraitor, the North Korea-linked group that also hit Bybit.

The entry point has changed since Friday. Binance first blamed a compromised laptop belonging to a DevOps engineer, then found “additional points of breach.” On Ethereum, the attacker used 50 pre-signed authorizations to turn a Binance hot wallet into a contract that emptied itself—a failure of Binance’s own signing approvals, not of Ethereum. No private keys leaked. The attacker wiped its tooling on the way out.