The short answer: So far, not much. Binance says about $6.3 billion was taken in the largest crypto hack on record, and that it will cover all user losses. Bitcoin fell roughly 4% the next day, less than the 8.3% average first-day drop after past exchange hacks, according to Anchorage Digital data cited by CNBC. On The Pomp Podcast, Pomp called that resilience "weird bullish," and Jordi Visser framed the hack as part of a broader wave of AI-driven attacks.
Drawing on The Pomp Podcast, hosted by Anthony Pompliano (anthonypompliano.com), with guest Jordi Visser (episode released October 31, 2026).
On the October 31, 2026 episode, Pomp and Jordi Visser opened with the Binance hack. Here is what happened, how the market reacted and why both of them think the story is bigger than one exchange.
What happened at Binance?
On October 29, Binance said an attacker had made unauthorized withdrawals from the exchange. In its update, Binance put the estimated impact at about $6.3 billion and said it initially traced the breach to a compromised DevOps engineer's laptop that gave the attacker access to a service container. Chainalysis estimated about $6.4 billion and said the theft began around 4:20 p.m. ET. According to CoinDesk, co-CEO Richard Teng later said the attack was more complex than one engineer's permissions being misused. The BBC noted it eclipses the $1.5 billion Bybit theft of 2025.
Who was behind the Binance hack?
Chainalysis attributed the hack to TraderTraitor, a North Korea-linked hacking group, and TRM Labs and Elliptic also linked it to North Korea, according to CoinDesk and CNBC. Law enforcement has not issued a final finding.
How much of the stolen money was frozen?
Binance said about $3 billion had been frozen on-chain as of October 30. According to Reuters and CoinMarketCap, Tether froze about $1.57 billion in USDT, Circle froze more than $800 million in USDC, Ripple froze about $200 million, and World Liberty Financial froze $27 million of its USD1 stablecoin plus WLFI tokens. Jordi said this is the part to watch: "how much got frozen, how much they find, how much law enforcement gets involved."
Will Binance users get their money back?
Binance says yes. It pledged to cover all losses using its Secure Asset Fund for Users (SAFU) and company funds. Withdrawals were suspended while it rebuilt its withdrawal security, and CoinDesk reported that Binance is targeting a Sunday restart. Deposits kept working. For background on the exchange's founder, see Who is CZ?
How did Bitcoin react to the Binance hack?
Bitcoin fell about 4% to around $77,000 on October 30, and briefly traded near $76,400, according to CNBC and CoinDesk. Pomp said on the show that it "sold off 5%," and argued that "if this had happened 10 years ago in the crypto industry, Bitcoin would have sold off 20 to 40%." Sam Callahan of OranjeBTC told CNBC that investors recognized "Bitcoin itself was not hacked." For more on that idea, see Is Bitcoin Less Risky Now?
Why does Jordi Visser connect the hack to AI?
Jordi said he has heard similar stories "multiple times, not of this size, but the amount of hackings that are going on from AI." His view is that AI agents make attacks cheaper and faster, so exchanges and companies will face more of them. "I don't see this as anything more than another fear factor that starts with AI agents," he said. He also tested a technical marker on the show: he said Bitcoin was testing its 200-day moving average in the "73 to 74" thousand range. Related: Is Quantum Computing a Threat to Bitcoin? and Has Bitcoin Bottomed?
Key takeaways
Binance estimates about $6.3 billion was stolen; Chainalysis puts it near $6.4 billion. It is the largest crypto hack on record.
Chainalysis attributes it to North Korea-linked TraderTraitor.
About $3 billion was frozen, including roughly $1.57 billion by Tether and $800 million-plus by Circle.
Binance says SAFU and company funds will cover all user losses.
Bitcoin fell about 4%, about half the average first-day drop after past exchange hacks.
Best quotes from this episode
"if this had happened 10 years ago in the crypto industry, Bitcoin would have sold off 20 to 40% in my opinion, it sold off 5%."
"That actually seems in a weird bullish that you could have a $6 billion hack."
"So if this was, as I've seen reported, going through an engineer's laptop and then going from there, we're just at this point where the attacks are on."
"I don't see this as anything more than another fear factor that starts with AI agents."
FAQ
How much was stolen in the Binance hack?
Binance estimates about $6.3 billion. Chainalysis estimates about $6.4 billion. It is the largest crypto hack on record.
Who hacked Binance?
Chainalysis attributed the October 29, 2026 hack to TraderTraitor, a North Korea-linked group. TRM Labs and Elliptic also linked it to North Korea.
Will Binance cover user losses?
Binance says it will cover all losses using its SAFU fund and company funds.
How much of the Binance hack was frozen?
About $3 billion as of October 30, 2026, including about $1.57 billion frozen by Tether and more than $800 million by Circle.
How much did Bitcoin fall after the Binance hack?
About 4% on October 30, 2026, to around $77,000, compared with an 8.3% average first-day drop after past exchange hacks.
FROM THE HOST
See where bitcoin fits in your own portfolio.
Silvia is a personal AI CFO. Connect your accounts, see your assets and liabilities in one place, and ask questions about your bitcoin and other investments using your own financial context. Access is read-only.
Disclosure: Anthony Pompliano is Chairman and CEO of Silvia, Inc (Nasdaq: SVIA). For educational purposes only; not financial advice.
Watch or listen to the full episode
Hear Pomp and Jordi Visser break down the Binance hack.
"Bitcoin Survives Biggest Crypto Hack In History?!" with Jordi Visser, October 31, 2026. The Binance discussion starts around the 1-minute mark.
Sources
Last updated: October 31, 2026
About The Pomp Podcast
The Pomp Podcast is hosted by Anthony Pompliano and covers the future of business, finance and technology. The show features Pomp's conversations with founders, investors and economists about bitcoin, markets, AI and the economy. Follow The Pomp Podcast on X.
Subscribe
Get notified for every new Pomp Podcast episode.
Subscribe for free to learn alongside Anthony Pompliano.
This article reflects the opinions of the guests and host as shared on The Pomp Podcast. It is guest opinion, not investment advice. Do your own research before making any investment decision.
