BNB price was $711, down 6.2%, in a market snapshot on October 29, 2026, as Binance investigated reports of a potential security issue. The exchange had not confirmed a hack in its public statements.

Key Takeaways

  • BNB’s reported percentage decline was larger than those of Bitcoin and Ether in the same snapshot.
  • Binance said it was investigating and that user funds were safe; stablecoin issuers reported freezing funds associated with the incident.

BNB price snapshot

The snapshot, posted by market commentator @Dominikz177 at 21:27 UTC and labeled 5:20 p.m. ET, also put Bitcoin at $79,381, down 2.4% over 24 hours, and Ether at $2,279, down 3.7%. The periods for the BNB and Ether changes were not specified.

The figures are from one social-media roundup, rather than an official Binance price or a consolidated market feed. The simultaneous moves do not establish what caused BNB’s decline.

Binance introduced BNB in 2017 as a utility token offering transaction-fee discounts. BNB Chain’s explanation of BNB’s origins and uses describes how the token later expanded into a broader blockchain ecosystem.

Binance investigates reported wallet outflows

At 21:16 UTC, Binance said it was investigating a potential security issue and had not confirmed any impact on user funds. In a second statement at 21:29 UTC, it said user funds were completely safe and warned users against unofficial links and requests for account information.

Binance co-founder Changpeng Zhao said at 21:15 UTC that it looked like a hack. He said he no longer manages Binance.com and, as a shareholder, expected user funds to be fully covered. His statement was not a confirmation from the exchange.

Estimates of outflows from Binance-labeled wallets varied widely across public posts, from roughly $2.5 billion to more than $5.6 billion. The figures described different observations and were not a confirmed loss total.

Stablecoin issuers report freezes

Tether’s Paolo Ardoino said at 21:25 UTC that the issuer had frozen more than 1.567 billion USDT related to a potential Binance exchange hack. Circle’s Jeremy Allaire said at 21:18 UTC that Circle had frozen more than 800 million USDC associated with the incident in coordination with law enforcement.

The freezes and public estimates of wallet transfers do not establish the final amount lost or the impact, if any, on users.

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