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Wire · operational-macro

Binance Co-CEO Richard Teng Says $2.85B Tied to Hack Was Frozen or Intercepted

4 November 2026 · By · Wire by Fusion42

Published

4 November 2026

Topic

operational-macro

◆ Sectors

Crypto & Web3

◆ Geography

United States

◆ Source

Read at tokenpost.com →

◆ Verified

Fusion42 · 5 November 2026 · Fusion42 review

Binance's co-CEO Richard Teng revealed that $2.85 billion linked to the October 29 hack was frozen or intercepted through collaboration with law enforcement and blockchain intelligence firms. Binance has replenished 98% of affected tokens and resumed withdrawals, describing the attack as highly sophisticated and lasting months.

This Wire brief sits within Fusion42's coverage of Crypto & Web3.

◆ ◆ The Wire takeaway

You face faster law enforcement-backed asset recovery in crypto than in traditional finance after hacks. This means you can now position your firm as a safer alternative with stronger fund protection post-attack.

◆ Coverage

1 source · 4 Nov 2026

◆ Related on Wire

◆ Topics

Crypto & Web3crypto-hackfunds-recoverybinanceblockchain-securitylaw-enforcementtoken-restitution