The crypto world is reeling after a hacker drained billions of dollars from Binance, the world’s largest digital currency exchange, on Thursday. The full details of the hack are still emerging, but the broad strokes of what happened are becoming clearer, as everyone from security researchers to Elon Musk to the company itself weighs in with theories. Binance posted on X late Thursday evening Eastern Time, stating that a compromised developer laptop is likely to blame for the catastrophe, which is by far the biggest security incident in an industry that has been plagued by hacking since its earliest days. The company plans to provide more extensive details on Friday, and in the meantime, many other big crypto firms—including its biggest rivals—have rushed in to aid Binance. Here is a detailed look at what we know so far about the nature and scope of the hack, and what is likely to happen next. paywall removed for Redditors: https://fortune.com/2026/10/30/what-we-know-about-binance-hack-biggest-crypto-heist/?utm_source=reddit/
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