binance hacked
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Binance Hacked: $6.3 Billion Gone, Why Real Estate Could Be the Biggest Winner

Yes, Binance was hacked. The exchange says about $6.3 billion in assets were affected, roughly $3 billion has been frozen, and deposits and withdrawals are on hold while it investigates. Binance also says user funds remain safe, and points to its emergency reserve, the Secure Asset Fund for Users (SAFU).

That’s the short version. The longer one matters more, especially if you have been wondering whether the savings you parked on a crypto app are really yours in the way a plot of land is yours.

What happened to Binance?

Binance Hacked

TRM Labs says the attacker moved around $6.36 billion out of Binance wallets on October 29, across ten blockchains. Most of it left in about 20 minutes. Binance puts the impact at about $6.3 billion. Early social media posts guessed anywhere between $2 billion and $8 billion, so the official figure landed somewhere in the middle.

For scale: Binance reported 335 million registered users and about $162.8 billion in assets under custody in its 2025 annual report. TRM says all crypto hackers combined stole about $2.9 billion last year, across nearly 150 attacks. One afternoon at Binance was more than double that.

Richard Teng co-ceo of Binance

Binance co-CEO Richard Teng said the first look at the evidence suggests the break-in started with a compromised engineer’s laptop. Investigators think the attackers used that foothold to tamper with a genuine transaction request and send funds to wallets they controlled. Other firms helped freeze money as it moved. Binance said Ripple froze roughly $200 million.

Markets noticed. Bitcoin fell, and in after-hours US trading, Coinbase shares fell 4.8% while Strategy, a big bitcoin holder, dropped nearly 6%.

Binance Hacked?

Nobody has claimed it, and Binance hasn’t named anyone. But TRM Labs, Chainalysis and the on-chain investigator ZachXBT all point to North Korea’s TraderTraitor group. TRM says the method matches earlier North Korean heists, including the 2025 Bybit hack that the FBI pinned on Pyongyang.

Treat that as strong expert opinion, not a court verdict. The investigation is still open.

Binance Hicaked: What the experts are saying

We reviewed analyst reactions published since the news “Binance Hacked” broke. The voices differ in tone, but they keep circling the same worry.

Eric Jardine, head of research at Chainalysis, was careful. He said the investigation is ongoing and that the cause couldn’t yet be confirmed. His boss, CEO Jonathan Levin, was more direct, saying the pattern looks like TraderTraitor and putting the haul slightly higher than Binance’s figure at about $6.4 billion.

Aravind Srinivasan, who runs systematic OTC at market maker GSR, called it the biggest hack in history. He also flagged the day-to-day effect: wider spreads and thinner liquidity on Binance’s spot market, which makes trading more expensive for ordinary users.

Mark Karpeles, former head of Mt. Gox and now CEO of Karpeles Lab, knows a thing or two about exchange disasters. He said Binance appears to split its assets across several systems, so one breach can only reach part of them. His catch: even a partial loss at this size is huge.

Tim Sun, a senior researcher at HashKey Group in Hong Kong, said the hack could dampen risk appetite and push investors to rethink the safety of coins held on centralised exchanges. He named the usual suspects: counterparty, solvency and liquidity risk.

Sean Foley, a crypto markets specialist at Macquarie, made the confidence point. Binance is one of the biggest centralised exchanges, so a hit to trust in it could rattle retail investors and weigh on prices.

Reuters also reports that crypto was already under pressure this year from higher US interest rates and softer buying through exchange-traded funds. The hack lands on an already nervous market.

Our read of all this: nobody is saying crypto is finished. Almost everyone is saying the same quieter thing: that when your coins sit on someone else’s platform, you’re trusting that company’s people, laptops and approval processes as much as the technology.

My Binance account might be hacked. What should I do?

If you’re searching for “Binance withdrawal blocked” or “how to recover a hacked Binance account”, first take a breath. Withdrawals are paused for everyone right now, so a blocked withdrawal doesn’t mean you were targeted.

Then do these things:

  • Get updates only from Binance’s verified website, app, and official X account.
  • Ignore anyone offering to “recover” your funds on Telegram, WhatsApp or by DM. Hack headlines bring scammers out within hours.
  • Never share your password, 2FA codes or seed phrase with anyone, including people claiming to be support.
  • Change your password, switch on app-based or hardware-key 2FA, and check your logged-in devices and API keys.
  • Screenshot your balances and transaction IDs, in case you need to file a claim later.

Binance hacked before?

Yes. Binance lost around 7,000 BTC in a 2019 hack and was hit by a large BNB bridge exploit in 2022. Both were serious. This one is in a different league.

What the “Binance Hacked” says about holding crypto

When you keep coins on an exchange, you don’t hold the asset. You hold a promise from a company to return the asset. One compromised laptop was apparently enough to put billions in play, and no user, however careful, could have prevented it.

Self-custody has its own traps: lost keys, phishing links, fake apps, mistakes that can’t be reversed. And prices can swing hard in a day. None of this makes digital assets worthless. It does make them a shaky place to keep money you can’t afford to lose.

Most financial planners say the same thing about any single asset: don’t put everything in one basket. This week is a good reminder why.

Why some investors are looking at tangible assets

binance hacked and people look for tangible assets like property and real estate

Gold, silver and property have a few things going for them that a digital balance doesn’t.

  • You can point at them. A plot, a flat or a gold bar exists whether or not a server is online.
  • The paperwork is public. Land and property titles are registered with the authorities and backed by courts, not by a platform’s terms and conditions.
  • They have history. Gold has held value for centuries. Property in well-planned cities has tended to follow population growth and inflation over the long run.
  • Property can pay you. Rent is income. Most crypto sits there and does nothing.

They aren’t risk-free, though. Property is harder to sell quickly, prices can fall, and some developers are far better than others. Gold moves around too. The difference is that nobody can empty your flat in twenty minutes from another country.

Binance Hacked: What this means in Pakistan

binance hacked

Pakistan has a young, growing population, steady demand for city housing, and a long habit of putting savings into gold and property. Plenty of families also turned to crypto in recent years, which is why Binance hacked searches here are full of questions like whether it’s safe, whether it’s halal and what happens if it’s banned. A headline like this one makes people ask where else their money could go.

In Islamabad, the Blue Area is still the capital’s main commercial address. Well-built towers there have drawn local buyers and overseas Pakistanis who want something solid at home.

Islamabad’s Tallest Residential Tower: Citadel One3

One development in that conversation is Citadel One3 by Chakor, a luxury condominium tower on Jinnah Avenue in the Blue Area.

The developer describes it as a 40-plus-storey building with smart-building features and strong rental potential, thanks to its central location. It sits alongside the company’s other projects such as Citadel 7.

Chakor has made headlines before. It introduced a 60-40 payment model for Citadel 7 and put up a public possession countdown there, so buyers could see the handover timeline for themselves. The company has offices in Islamabad (Plot 7, Main Jinnah Avenue, Blue Area) and Dallas, Texas, which helps buyers abroad.

The appeal is simple. An apartment at a prime address is something you can walk through, inspect and hold the title to.

Before you buy any property

  • Check the developer’s approvals and NOCs with the relevant authority, which for Islamabad means CDA.
  • Read the payment plan, handover dates and penalty clauses in writing.
  • Visit the site and see the construction progress yourself.
  • Have an independent lawyer verify the title documents.
  • Compare expected rent and resale prices with similar projects nearby.
  • Contact the developer directly: Chakor, +92 (334) 111-11-99, sales@chakorventures.com.

FAQs – Binance Hacked

Has Binance been hacked?

Yes. Binance says about $6.3 billion was affected and around $3 billion is frozen so far. It says user funds remain safe.

Who hacked Binance?

Blockchain analytics firms blame North Korea’s TraderTraitor group. Binance hasn’t named a culprit.

Can Binance be hacked again?

Any big exchange can be targeted. Binance had earlier incidents in 2019 and 2022, and this one is far bigger.

Is my money on Binance safe?

Binance says yes and points to its SAFU reserve. Follow its official announcements and be wary of anyone else’s.

Should I invest in crypto?

That’s your call. Never invest more than you can afford to lose, and consider spreading your money across different asset classes.

Are tangible assets safer than crypto?

They can’t be hacked, but they carry their own risks, like slow resale and weak developers. Do your homework either way.

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CategoriesNews Economy Investment Real Estate Real Estate Investment

Pakistan Pitches Special Economic Zones to Qatari Investors; Retaj Group Weighs Hotel Ventures

DOHA: Pakistan’s commerce minister asked Qatari investors to look at the country’s Special Economic Zones (SEZs) during meetings in Doha, and Qatar’s Retaj Group said it wants to explore hospitality projects in Pakistan, according to an official statement released Tuesday.

Jam Kamal Khan met Qatari and international officials on October 25 and 26 during the World Investment Forum 2026. His meetings included the Secretary-General of the D-8 Organisation for Economic Cooperation, Qatar’s Minister of Municipality, the chairman of the Qatar Chamber of Commerce & Industries, and Retaj Group representatives.

He told the Qatar Chamber chairman that the SEZs, especially the Karachi industrial area, suit export-focused manufacturing. He also said Pakistan can serve as a route to markets such as Africa. The chairman pointed to shifting global supply chains and said Qatar is interested in the proposed regional transit routes.

Retaj Group said it would consider joint ventures with Pakistani partners and bringing its hotel brands to Pakistan and other Islamic countries. The statement gave no details on projects, locations or investment sums.

The D-8 Secretary-General told the minister on October 25 that the group’s Preferential Trade Agreement needs to be put into practice now that Egypt has ratified it. On October 26, the minister and Qatar’s Minister of Municipality discussed agriculture, food security and trade.

For more real estate news and special reports, visit Chakor.

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CategoriesNews Construction Real Estate Investment

Construction Growth Revised Up to 6.30% for FY2025-26 

ISLAMABAD: The National Accounts Committee (NAC) has revised Pakistan’s construction sector growth for FY2025-26 to 6.30 percent, up from the earlier estimate of 5.73 percent. The updated national accounts were approved on October 19, 2026.

The 0.57 percentage point increase is linked mainly to higher public-sector construction spending. The revision comes even as overall fiscal-year economic growth was trimmed to 3.65 percent from 3.70 percent.

Construction activity remained positive in the final quarter. Between April and June 2026, the sector expanded 3.52 percent year-on-year, while the industrial sector contracted 4.70 percent and the wider economy grew 2.00 percent.

The figures point to government spending on public projects as a key support for construction during the year. However, higher sector output does not translate directly into rising plot prices or resale premiums. 

Residential transactions, developed-plot supply, public works, and private building are separate but related markets. Property values still depend on location, project progress, and buyer demand.

For more real estate news and special reports, visit Chakor.

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CategoriesNews Economy Property Laws Property Taxes Real Estate Investment

World Bank Presses Pakistan to Move Property Tax onto Market Valuations

ISLAMABAD, October 3, 2026: The World Bank has urged Pakistan to tighten enforcement of agricultural income tax and overhaul how provinces tax property, Business Recorder reported today.

The recommendations came up during a meeting between Finance Minister Muhammad Aurangzeb and a World Bank team led by Country Director Bolormaa Amgaabazar.

On agriculture, the Bank wants provinces to implement their amended tax laws, set up digital registration, filing and payment, and share more data with federal authorities. The sector accounts for about 24 percent of GDP, yet most of it sits outside the tax net.

Property was the other focus. Pakistan collects only about 0.13 percent of GDP in property tax, against 0.3 to 0.6 percent in many comparable economies. The Bank called for a single, harmonised valuation approach, better digital systems, and a gradual move away from outdated administrative valuations toward market-based values.

The discussions went beyond tax. The Bank also raised GST harmonisation, closer coordination between Islamabad and the provinces, stronger revenue-policy modelling and delivery of the Medium-Term Revenue Strategy. 

On business conditions, it pointed to simpler regulation, SME financing, insolvency reform, factoring legislation and export-finance products through EXIM Bank. Capital-market reforms were also on the table, aimed at widening financing options and encouraging investment.

The report presents all of this as proposals under discussion. It does not mention a new property-tax rate, an immediate nationwide increase or a date for introducing market-value taxation.

For more real estate news and special reports, visit Chakor.

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CategoriesNews Developments Real Estate Real Estate Investment Urban Developments & Planning

CDA Plans Phased Launch of G.T. Road Commercial Scheme, Eyes Over Rs500bn in Revenue

ISLAMABAD: CDA is preparing to open a large commercial area along G.T. Road, a project that officials say could earn the civic body more than Rs500 billion.

Sources said Chairman Sohail Ashraf has instructed the relevant teams to move ahead with the scheme, which is likely to launch in the coming months. He has reportedly presided over several meetings on the subject and asked the relevant wings to wrap up their preparations quickly.

CDA acquired the land in 1967, and it spans 3,550 kanals along a 16-kilometre stretch from EME College to Nicholson Monument, covering a 200-foot-wide strip on both sides of the road. Officials estimate that about 2,000 kanals will be usable after planning.

Explaining the revenue projection, an official said that even at a base rate of Rs750,000 per square yard, one kanal would fetch roughly Rs500 million. He added that the plots would be released gradually rather than all at once.

CDA did little to secure the land until 2025, when it began an enforcement drive. A major operation last year, led by the then Deputy Director General Enforcement, Dr Anam Fatima, recovered a considerable share, and another operation is underway. Officials said over 100 permanent buildings have been marked for demolition. 

Heavy machinery dealers in the Tarnol area are also using the land for parking. Interior Minister Mohsin Naqvi has reportedly backed CDA’s efforts to reclaim state land.

Director General Spatial Planning Ijaz Ahmad Sheikh has set up a four-member committee, headed by Deputy Director General Architecture Ali Abdullah, to finalise the design. Officials expect strong demand for fuel stations, as NHA is adding land to the road.

For more real estate news and special reports, visit Chakor.

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CategoriesEconomy News Real Estate Investment

SECP Proposes Raising Microfinance and Housing Loan Limits to Rs5 Million

ISLAMABAD: The SECP has proposed raising the maximum limit for microfinance and housing loans to Rs5 million, as part of amendments aimed at expanding access to finance.

The regulator said on Tuesday that it has issued the proposed amendments for consultation with stakeholders.

Under the proposals, the annual income threshold for borrowers eligible for microfinance loans would increase to Rs1.5 million from the current Rs1.2 million.

The amendments also revise the thresholds used to classify businesses. For small businesses, the maximum annual turnover limit has been proposed at Rs400 million, up from Rs150 million. For medium-sized businesses, the limit has been proposed at Rs2 billion, up from Rs800 million.

The SECP said the proposed SME thresholds are aligned with recent changes introduced by the State Bank of Pakistan, which revised its prudential regulations for housing finance.

The proposals are open for stakeholder feedback before any final decision. No implementation date was announced.

For more real estate news and special reports, visit Chakor.

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CategoriesNews Developments Property Laws Property Taxes Real Estate Real Estate Investment

Sindh Targets Five-Fold Jump in Property Tax Records to 2.15m Under $150m World Bank Plan

KARACHI: Sindh is preparing to widen its urban property tax records more than fivefold, from about 397,375 entries to roughly 2.15 million, through a World Bank-backed programme covering 20 local councils outside Karachi.

The Sindh Property Revenues Enhancement Program (SPREP) is valued at $150 million, comprising $110 million in results-based financing and $40 million in investment project financing. The Local Government Department will implement it to increase Urban Immovable Property Tax (UIPT) collection and improve municipal financial management.

According to the programme’s Stakeholder Engagement Plan, only about one-fifth of an estimated 2.1 million properties in the five targeted divisions are currently registered. Field teams will conduct a GIS-based, door-to-door survey of residential and commercial premises, geo-tagging each property into a new UIPT management information system. The plan stresses that the exercise is meant to build records, not issue tax demands.

The targeted councils are spread across Hyderabad (nine), Larkana (four), Sukkur (three), Mirpurkhas (two) and Shaheed Benazirabad (two), serving about 4.5 million residents. Wider institutional support will reach all 45 participating councils, including 25 in Karachi.

Beyond the survey, the programme will finance digitisation of Board of Revenue land records, a digital master plan linking land and tax systems, city surveys and a financial management information system for budgeting, accounting, payroll and expenditure.

To address privacy and accuracy concerns, the plan proposes advance notice of visits, identified enumerators and channels for residents to review and correct records. Monthly Town Citizen Committees and women-only consultations are planned to prevent exclusion of vulnerable groups.

The design draws on Karachi’s CLICK project, where the registered base reportedly rose from about 900,000 to 4.2 million properties after removing duplicates and out-of-mandate entries.

For more real estate news and special reports, visit Chakor.

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CategoriesNews Property Laws Property Taxes Real Estate Real Estate Investment

FBR to Refund Section 7E Tax on Properties Above Rs25mn After Court Strikes Down Law

ISLAMABAD: The FBR has agreed to refund tax collected on deemed rental income from immovable properties under Section 7E of the Income Tax Ordinance, 2001, months after Pakistan’s FCC struck the provision down as unconstitutional.

The relief follows sustained advocacy by the Lahore Tax Bar Association’s Public Interest Litigation Committee, whose chairman, Waheed Shahzad Butt, had repeatedly petitioned the FBR since the FCC’s May 7, 2026 verdict voided Section 7E in its entirety, along with all notices issued under the clause since its introduction through the Finance Act 2022.

In a letter dated September 23 to all Chief Commissioners of Inland Revenue across large taxpayer, corporate, and regional offices, the FBR directed that it must not turn down revision requests filed in response to the court order and must process any refunds arising from such revisions without delay.

The reversal affects a wide pool of taxpayers, as Section 7E applied a 5% deemed-income tax on the FBR-assessed market value of properties worth more than Rs25 million.

Butt welcomed the move as a significant win for taxpayers, noting it would spare both the exchequer and litigants from prolonged legal battles. However, he clarified that the FBR’s directive is limited strictly to Section 7E and does not affect a separate, unresolved dispute over Super Tax under Section 4C, where the FCC upheld the levy but excluded certain exempt capital gains, including inherited property and long-held real estate.

Pending a broader refund mechanism, the LTBA-PILC has proposed adjusting amounts collected under both Section 7E and Section 4C against taxpayers’ FY26 liabilities, urging the FBR to extend similar expedited treatment to pending Super Tax claims.

CategoriesNews Construction Developments Economy Property Real Estate Real Estate Investment Urban Developments & Planning

Punjab’s Digital Housing Scheme Bags UN Scroll of Honour, Ranks Among World’s Top Five

LAHORE: Punjab’s flagship housing initiative, ‘Apni Chhat, Apna Ghar‘, has been named a recipient of the United Nations Scroll of Honour Award, placing it among the five most successful housing programmes worldwide this year.

UN-Habitat confirmed the honour following an extensive global review of housing initiatives, citing the programme’s role in extending safe, affordable shelter to low-income families. Only five schemes are chosen for the award internationally each year, making the recognition a notable achievement for the provincial government led by CM Punjab.

The award will be formally presented on October 5 during World Habitat Day, with the main ceremony taking place in Muscat, Oman. Related seminars and workshops on urban housing development are scheduled to run in the Omani capital from October 6 to 8.

Since its launch, the programme has disbursed roughly Rs260 billion in loans, enabling construction of more than 200,000 homes across two phases. The first phase accounted for over Rs196 billion in financing for 134,439 units, while the second added more than Rs62 billion for an additional 65,000 houses. Around 125,000 families have already moved into completed homes under the scheme.

Beyond the scale of financing, the programme is Pakistan’s first fully digital housing finance model, a feature officials say has helped streamline loan disbursement and construction tracking at scale.

The UN recognition adds to a string of accolades for the initiative, reinforcing its position as a reference model for low-cost housing delivery, both within Pakistan and among developing economies pursuing similar affordable-housing agendas.

For more real estate news and special reports, visit Chakor.

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CategoriesNews Economy Investment Property Laws Property Taxes Real Estate Investment

Faulty Formula in FBR’s New Tax Return Form Is Overcharging Taxpayers, Warns PTBA

ISLAMABAD: The Pakistan Tax Bar Association has urged FBR to urgently fix a calculation error in its new income tax return form, warning that it is charging some taxpayers more than the law actually requires.

In a letter to FBR Chairman Rashid Mehmood Langrial, the PTBA said the fault lies in how the IRIS system handles “minimum tax,” a baseline amount already deducted or withheld on certain kinds of income that the law says should count in full toward a taxpayer’s minimum tax obligation.

Instead, PTBA says, IRIS splits a person’s income across different sources and taxes the remainder at an average rate, effectively piling an extra, unjustified demand on top of tax already paid.

To illustrate the unfairness, the bar association pointed out that two taxpayers earning the exact same income could end up owing different amounts, with the one who had tax withheld in advance actually paying more overall than someone who didn’t, purely because of how the system calculates things.

PTBA noted that the law already deals with a similar scenario correctly under the Final Tax Regime, where income taxed at source is treated as a separate block and excluded from normal-rate calculations. It says IRIS fails to make the same exclusion for minimum tax cases, meaning the same income essentially gets taxed twice.

The association has shared sample calculations with FBR to back up its claim and argued that building such formulas into the software amounts to interpreting the law itself, something it says neither FBR nor its technology arm, PRAL, has the authority to do, particularly since taxpayers have no option but to accept whatever the system generates.

For more real estate news and special reports, visit Chakor.

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