Binance may have suffered a hack worth several billion dollars, though the attack has not been confirmed. Ido Ben-Natan, co-founder and CEO of the security firm Blockaid, says the attackers may not have stolen any private keys. He thinks they may have manipulated the system Binance uses to sign transactions. Cointelegraph reported his comments on Oct 30, 2026.
The difference matters. Stealing a key means someone outside takes the key that controls the funds. Misusing a key means the key may have stayed where it was, while the attackers tampered with the process that approves transactions. Ben-Natan compared the case to the earlier hack of Bybit.
Ben-Natan's view is a suspicion, not a finding. The report does not confirm the size of the loss, how the attack worked, or what Binance has said about it. Those questions are still open.
For someone already holding a perpetual position on Bitget, Bybit, MEXC or OKX, nothing changes directly based on what is known. The report says nothing about funding rates, fees or liquidity on those four exchanges, and Perp Desk will not guess at an effect the facts do not show.
Source: cointelegraph — Binance hack may involve private key ‘misuse,’ not theft: Blockaid CEO