Binance customers told to be alert for scams after $6.3bn hack | Business Today

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Support the Guardian Support us   Fund independent journalism 02/11/2026 Binance co-founder issues scam warning to customers after $6.3bn hack Plus: oil firms, UK mortgage rates, National Grid Business live Crypto ‘scammers on overdrive’ as Binance customers pull billions from accounts after $6.3bn hack Today’s headlines Nine big oil firms on track to share more than $95bn profit two quarters in a row Investors pull billions in funds from Binance after record $6.3bn hack Millions in UK brace to remortgage on worse deals as rate rise looms National Grid to site biggest substation in UK near planned Teesside datacentre UK making up China policy ‘as it goes along’, MPs warn UK willing to spend £450m a year on EU students if it can join Made in Europe scheme How Rachel Reeves has mapped out the economic agenda for Andy Burnham’s government Fashion and tradition: how John Smedley is innovating in a tough market The agenda Crypto scammers are now in “overdrive”, a co-founder of the cryptocurrency exchange Binance has warned, as customers pull billions in funds from the platform as it recovers from a record hack. The platform was hit by a $6.3bn (£4.7bn) theft on Thursday, which has since been described as the biggest heist in history. Experts identified North Korea as the probable culprit. Binance initially froze withdrawals as it investigated the breach but on Sunday announced it had begun a phased reopening. By Sunday afternoon, the platform had processed $4.6bn in withdrawals and $1bn in deposits, resulting in a net outflow of about $3.6bn – 2.1% of its $171bn in total assets under management. (Those numbers were confirmed by the company in its latest proof of reserves snapshot – a full report is expected today.) Changpeng Zhao, a co-founder of the platform, has warned that scammers are now targeting those who are trying to pull their money from the platform. He wrote on X: “Scammers on over drive now. Be careful.” His post was in response to a post from the Binance team that said: “Some of you may have seen posts and screenshots circulating recently. Please be aware that these screenshots are fake and the information in them is false. For accurate and up-to-date information, always refer to our official channels and announcements.” The hack has spooked the market, with investors also pulling out funds from bitcoin exchange-traded funds in the US, according to Nick Forster, the chief executive of Derive.xyz, a crypto platform. He said: “US spot bitcoin ETFs recorded $643m in net outflows on Friday, their first trading session following the hack.” The rival trading platform Chainalysis said on Friday it had also been the target of a cyber-attack, although it found no evidence of unauthorised access to “investigation content, authentication credentials, or session tokens”. It said in a statement: “Our team is working with leading cybersecurity experts to investigate this activity and harden our systems. We’ve proactively notified all of our customers and will keep them updated as our work progresses. This security incident is not related to the recent crypto theft at Binance.” Today’s key events • 9am GMT: eurozone manufacturing PMI • 9.30am GMT: UK manufacturing PMI • 3pm GMT: US manufacturing PMI • 10pm GMT: Apple Q4 earnings We’ll be tracking all the main events throughout the day on our business live blog …   The Feast app: your most useful kitchen utensil Get inspired with more than 8,000 recipes from our world-class cooks and smart, exclusive features to make cooking a breeze. Download the Feast app   In focus The staggering $446m Elon Musk has spent on the US midterms – visualized ‘We’re doomed anyway’: young people disheartened about the future are splashing out on the present It’s closer to Beijing than Washington – and residents of this Alaskan outpost are reeling from Trump’s policies The cursed cruise: how the dream of never-ending luxury at sea became a nightmare Budget 2026: how to beat the new savings tax rates Opinion & analysis The measure slipped into UK budget that could protect spending on children, youth and rough sleeping | Heather Stewart The US-China trade war seems to have subsided – but the sense of calm is misleading Britain’s housing crisis won’t be fixed without a new tax landscape Trump beware: US voters are concerned about government corruption The Guardian view on Labour’s fiscal devolution: the future of Burnhamism will play out in municipal England | Editorial In case you missed it Labour’s pledge to level-up minimum wage for under-20s before next election in doubt Sadiq Khan calls for cap on numbers of robotaxis on London streets High street ‘slot farms’ could avoid budget tax rise through bingo hall loophole A gift to scammers: why you should probably keep your birthday a secret UK charity shop profits plummet amid shift in secondhand clothes market   When it comes to breaking news and live coverage of the events shaping the world, we think our journalism is second to none. But there’s so much to explore on our website and app. Have you tried one of our brilliant daily puzzles like Wordiply? Or cooked with Feast, our constantly-updated recipe app that’s packed with thousands of recipes from chefs such as Yotam Ottolenghi, Meera Sodha and Rukmini Iyer. And, from sports and lifestyle, to relationships and culture, you’ll never struggle to find anything good to read on the subjects you love. All of the Guardian’s journalism is powered by the financial support of our readers and the fact that we’re independently owned by the Scott Trust. By supporting the Guardian you are directly supporting quality journalism at a time when it is most needed, and keeping it open to those who aren’t able to pay. Support us today with any amount, or from just $5 per month. Support us

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