This is a developing story. numbers are unconfirmed i'm writing from what's verified so far. Onchain analysts flagged large suspicious outflows from binance hot wallets earlier today, wallets on ethereum, arbitrum, and avalanche. blockaid is investigating approximately $3.3 billion in suspicious transfers. coinbase's conor grogan put the figure higher, up to $5.8 billion, based on separate onchain tracing. hot wallets are exchange-held wallets connected to the internet, used for day-to-day withdrawals. They're the most exposed part of any exchange's infrastructure. Tether CEO Paolo Ardoino confirmed tether froze more than $1.567 billion USDT linked to a wallet that received the suspicious outflows, circle froze additional USDC combined, $1.79 billion in stablecoins was frozen based on onchain data. aave reportedly paused its lending markets to prevent the suspected attacker from using the platform, no official statement from aave yet. market reaction: BNB dropped more than 5.5%. CZ, binance's former CEO who stepped down as part of a 2023 guilty plea posted saying he no longer manages binance but expects user funds to be fully covered. We still haven't known what actually happened, the full scale of losses, who is behind it or whether user funds are at risk. This is North Korea's Lazarus group type shii just like the bybit case.