On 29 October 2026, about US$6.3 billion left Binance wallets in roughly 20 minutes, according to Binance and the blockchain analytics firms TRM Labs and Chainalysis. It is the largest crypto theft on record. The detail that matters for Indonesia is less the size than the response: within three days, one local exchange paused deposits and withdrawals, another dealt with a phishing wave, and the regulator said it saw no run on exchanges.

That sequence is a live stress test of Indonesia's supervised crypto market, and it lands eight days before Web3 Week Asia opens in Jakarta on 11-12 November 2026. All figures below are as of 15:50 WIB, 3 November 2026, and the story is still developing.

Amount. About US$6.3 billion stolen on 29 October 2026; TRM Labs counts US$6.36 billion across 10 blockchains.

Frozen. About US$3 billion frozen, including more than US$2.3 billion by Tether and Circle, according to Reuters as cited by Al Jazeera.

Attribution. TRM Labs and Chainalysis assess North Korea's TraderTraitor group; Binance has not attributed the attack to anyone.

Indonesia. OJK said it expects no rush on Indonesian exchanges; Indodax reopened services in stages from 14:00 WIB on 31 October.

Bitcoin. A six-week low of US$76,368, and about US$76,500 on 3 November 2026.

The 20-minute theft and the numbers

Binance says the attack started late on Thursday, 29 October 2026, and most of the money moved within about 20 minutes. TRM Labs counted roughly US$6.36 billion moving out of Binance wallets, and Binance's own figure is about US$6.3 billion. At the rupiah conversion used by InvestorTrust, that is about Rp114 trillion.

The previous record was the US$1.5 billion Bybit theft in February 2025, so this one is about 4.2 times larger (6.3 divided by 1.5). It is also more than six times the US$1 billion Secure Asset Fund for Users that Binance held in Bitcoin.

Binance first pointed to a compromised engineer laptop, then reported additional points of breach on Friday, 30 October, and said it found no evidence that wallet private keys leaked.

Freezes, attribution and who is cautious

Stablecoin issuers moved within hours: Tether froze wallets at 5:01 p.m. US Eastern time on 29 October and Circle followed three minutes later, according to the timeline compiled on Wikipedia from major outlets. Roughly US$3 billion is frozen, which is about 48% of the total (3.0 divided by 6.3). That leaves roughly US$3.3 billion not frozen, and Binance has not said where all of it went.

On who did it, TRM Labs assessed with high confidence that TraderTraitor, a North Korean unit linked to the Lazarus Group, carried out the attack, and Chainalysis reached the same conclusion. Binance co-CEO Richard Teng said the investigation had not attributed responsibility to any individual. North Korea routinely denies involvement in hacking.

Binance resumed withdrawals in phases on Sunday, 1 November 2026, starting with Ethereum, USDT and USDC. Binance said it had replaced about 95% of the stolen assets. That is the exchange's own claim, and an independent attestation had not been confirmed at the time of writing.

Markets: ETF outflows and the Bitcoin price

Bitcoin fell to a six-week low of US$76,368, according to Al Jazeera, and traded near US$76,455 at 06:40 UTC on 3 November, down 2.19% over 24 hours, according to crypto.news.

US spot Bitcoin ETFs recorded US$643.3 million in net outflows on Friday, 30 October, the largest single-day outflow since June, according to SoSoValue data reported by crypto.news and echoed by TechJuice. On Monday, 2 November, the same data source shows a further US$398.6 million of outflows, a figure with only one source so far. The two days together come to about US$1.04 billion.

The honest counterweight

The loss is not final. Binance warned that the total may continue to increase, and wallets tracked by Arkham Intelligence, cited by InvestorTrust, show over US$5.7 billion. The range is US$5.7 to 6.4 billion depending on who counts, and the figures are not summed here.

Attribution is an assessment, not a verdict. Two analytics firms agree on North Korea, but the exchange itself has not named a culprit, and no court finding exists.

The price link is not proven. Outlets list the hack beside a tech-stock selloff, leveraged long liquidations and caution before the US midterm elections. No study separates how much of the Bitcoin decline came from each cause. Net customer outflows from Binance are also disputed: Bloomberg's headline cites US$3.6 billion, while another outlet cites US$4.7 billion with internally inconsistent maths, so neither number is used here.

Indonesia crypto: what OJK, Indodax and Tokocrypto said

OJK's Adi Budiarso, who heads supervision of financial technology innovation, digital financial assets and crypto, said OJK is monitoring incidents globally and does not expect a rush in Indonesia, according to InvestorTrust on 1 November 2026. He framed the Binance case as one of internal IT governance, access control and staff discipline. OJK asked traders, exchanges and the market infrastructure, including the futures and crypto clearing bodies, to strengthen cybersecurity, test their systems regularly and keep customer assets segregated.

Indodax paused rupiah and crypto deposits and withdrawals on 29 October after detecting a rise in cyberattack attempts. Its CEO William Sutanto said no unauthorised withdrawals or data leaks were found. Services reopened gradually from 14:00 WIB on Saturday, 31 October, and were fully restored by 22:00 WIB, according to InvestorTrust. Reporting found no evidence linking the Indodax episode to the Binance theft.

Tokocrypto, which is majority-owned by Binance, said an incident on Tuesday, 27 October involved phishing notifications that pushed users toward a suspected wallet-draining site; some users reported losses on social media. CEO Calvin Kizana said user assets are safe and operations are normal. That incident came two days before the Binance theft and has not been tied to it. None of the three gave withdrawal volumes, so the claim of no rush rests on statements, not published data.

Web3 Week Asia 2026: blockchain event in Jakarta, 11-12 November

Web3 Week Asia takes place on 11-12 November 2026 in Jakarta, Indonesia. As of 3 November 2026, the event is eight days away. The two-day programme covers markets, regulation, infrastructure and venture investment across Southeast Asia, which are the areas this incident touches: how exchanges protect customer assets, how supervisors respond, and how quickly users get clear information.

The official site lists four tracks: Investor Meetups, Alpha Callers, Web3 Entrepreneur, and Indonesia Crypto Outlook 2026. The speaker line-up is listed as to be announced soon, so this article makes no claim about who will speak.

Frequently asked questions

When and where is Web3 Week Asia 2026?

Web3 Week Asia 2026 takes place on 11-12 November 2026 in Jakarta, Indonesia. It is a two-day crypto and blockchain event covering markets, regulation, infrastructure and venture investment across Southeast Asia.

How much was stolen in the Binance hack?

Binance says about US$6.3 billion was stolen on 29 October 2026, and TRM Labs counts US$6.36 billion across 10 blockchains. Wallets tracked by Arkham Intelligence show over US$5.7 billion, so the exact total is still being established.

Who is blamed for the Binance hack?

TRM Labs and Chainalysis assess that North Korea's TraderTraitor group, linked to Lazarus, carried it out. Binance has not attributed responsibility to anyone, and North Korea routinely denies involvement in hacks.

What did OJK say about the Binance hack?

OJK's Adi Budiarso said on 1 November 2026 that OJK expects no rush on Indonesian exchanges and urged users to stay calm but alert and to use licensed, supervised providers. OJK asked exchanges to strengthen cybersecurity and keep customer assets segregated.

Were Indonesian exchanges affected?

Indodax paused deposits and withdrawals from 29 October 2026 as a precaution and restored services by 22:00 WIB on 31 October. Tokocrypto reported a phishing attempt on 27 October. Reporting has not linked either episode to the Binance theft.

Sources

Al Jazeera, Binance says $6.3bn stolen in biggest crypto heist in history: https://www.aljazeera.com/news/2026/10/30/binance-says-6-3bn-stolen-in-biggest-crypto-heist-in-history-what-we-know

InvestorTrust, OJK on no rush in Indonesia after the Binance hack: https://investortrust.id/market/121172/ojk-pastikan-tak-ada-rush-kripto-di-indonesia-usai-binance-diretas-hingga-gangguan-yang-dialami-indodax-dan-tokocrypto

Hack amount, freezes and attribution: Al Jazeera (30 October 2026, citing Reuters, TRM Labs and Chainalysis) and the 2026 Binance hack timeline on Wikipedia, which compiles CNBC, Reuters, BBC and The New York Times. Wallet totals: InvestorTrust (1 November 2026, citing Arkham Intelligence). OJK, Indodax and Tokocrypto statements: InvestorTrust (1 November 2026), Beritasatu and Coinedition Indonesia (29 October and 1 November 2026). Bitcoin price and ETF flows: Al Jazeera, crypto.news (3 November 2026, 06:40 UTC, SoSoValue data), CoinGecko via Coingabbar (3 November 2026, 01:30 UTC) and TechJuice (2 November 2026).

Methodology: Ratios were computed from reported figures (6.3 divided by 1.5 is 4.2; 3.0 divided by 6.3 is 48%; 643.3 plus 398.6 is 1,041.9 million). Sources disagree on the stolen total (US$5.7 to 6.36 billion), the frozen amount (US$2.7 to 3 billion) and net customer outflows (US$3.6 to 4.7 billion), so ranges are shown and the outflow figures are excluded. Single-source items are attributed in the text. Claims by Binance about its own recovery are reported as claims.

This article is for information only and is not investment advice