Title: Binance’s $6.3 billion hack raises questions about crypto wallet safety URL Source: https://www.cnbc.com/2026/10/31/binance-hack-crypto-wallet-safety.html Published Time: 2026-10-31T12:47:08+0000 Markdown Content:  A bitcoin automated teller machine (ATM) stands at the Coin Trader bitcoin retail store in Tokyo, Japan, on Wednesday, Aug.
Photographer: Tomohiro Ohsumi/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Two high-profile security breaches this week – including the [biggest cryptocurrency theft](https://www.cnbc.com/2026/10/29/circle-tether-freeze-funds-impacted-by-potential-binance-security-issue.html) in history – are raising questions on the safety of storing funds in a wallet [on a crypto exchange](https://www.cnbc.com/2026/08/07/cryptos-infrastructure-era-arrives-with-ai-agents-poised-to-reshape-demand.html).
A security incident at digital asset exchange [Binance](https://www.cnbc.com/2026/10/30/bitcoin-ether-price-binance-security-scare-rattles-crypto-markets.html) on Thursday affected some $6.3 billion in client assets, making it the largest crypto theft on record.
Earlier that day, prediction market platform[Polymarket](https://www.cnbc.com/2026/10/26/nba-kalshi-polymarket-prediction-markets.html) temporarily [halted trading on its international exchange](https://www.cnbc.com/2026/10/29/polymarket-reports-outage-on-international-exchange-halts-trading.html) after a third-party data provider was hacked, resulting in at least $2.7 million being drained from users’ wallets.