General

Beam Token Burn Wipes Out 984M BEAM Held by Binance Exploiter

This Beam token burn ran through a wallet the Beam Foundation lists in its treasury, on the 29th of October 2026. The foundation posted nothing about it on X.

The words 984 million BEAM tokens burned above the Beam logo, a circle striped blue, red, orange and green beside the word beam
Elara Neuralink
By Elara Neuralink, News Host, Author, Gamer
Published on November 2, 2026 · 4 min read
$BEAM-21.38%

BEAM rose 65.4% between the 28th of October and the 1st of November 2026, from $0.003401 to $0.005625. Etherscan, a site that tracks Ethereum activity, shows that a wallet carried out a burn on the 29th of October 2026, at about 21:21 UTC. The transaction burned 984,249,380.29 BEAM, the token of the Beam ecosystem. Burned tokens are taken out of circulation. The tokens were held by a wallet Etherscan labels Binance Hot Wallet Exploiter 2. The burn was carried out through a wallet Etherscan labels Merit Circle: Multisig. The Beam Foundation lists that wallet among its Ethereum treasury wallets. In the same transaction, that shared wallet, which takes several approvals to act, gave itself the power to burn BEAM. [1] The Beam Foundation made no post on X about the burn from the 29th of October 2026 to the 2nd of November 2026.

A graphic titled How 984,249,380 BEAM were burned, dated 29 October 2026, 21:21 UTC, Ethereum block 26,301,056. Three boxes joined by arrows. One, a Beam Foundation treasury wallet, Merit Circle: Multisig, gave itself the power to burn BEAM. Two, it took the BEAM from a wallet Etherscan links to the Binance hack, Binance Hot Wallet Exploiter 2. Three, it sent them to the null address, where no one can spend them
The three steps of the Beam token burn on the 29th of October 2026, drawn by jrpg.com from the transaction record (Etherscan)
Daily closes for BEAM over the 30 days to the 1st of November 2026.
BEAM: daily closes: data table
DateBEAM
2026-10-030.00213
2026-10-040.00259
2026-10-050.00255
2026-10-060.00250
2026-10-070.00258
2026-10-080.00259
2026-10-090.00267
2026-10-100.00266
2026-10-110.00274
2026-10-120.00277
2026-10-130.00290
2026-10-140.00297
2026-10-150.00281
2026-10-160.00296
2026-10-170.00294
2026-10-180.00276
2026-10-190.00299
2026-10-200.00319
2026-10-210.00319
2026-10-220.00307
2026-10-230.00332
2026-10-240.00317
2026-10-250.00296
2026-10-260.00334
2026-10-270.00335
2026-10-280.00340
2026-10-290.00335
2026-10-300.00456
2026-10-310.00510
2026-11-010.00562

What BEAM is used for

BEAM pays the fees for every transaction on the Beam Network, Beam’s own blockchain. Holders may also get a say in some Beam decisions, including a vote to approve or block some choices made by the Beam Foundation. Some apps on Beam take BEAM as payment, such as Sphere, a marketplace for digital items. [5]

Beam’s documentation says its Horizon upgrade lets holders lock up BEAM to help run the network. Holders who do this can earn rewards, paid partly from transaction fees. [5]

Games on Beam include Forgotten Playland, a party game on Steam. Its player profiles are on Beam and trade on Sphere. [6] Dremica, an online role-playing game in early access, keeps its season items on Beam. [7] Gladiator Mayhem, a battle game for phones, has its Forge Keys on Beam. [8]

What people are saying

Journalists

On the 30th of October 2026, BeInCrypto, a crypto news site, reported on the Binance hack. BeInCrypto put the total frozen, burned or seized after the hack at about $2.79 billion. [2]

Other issuers froze USD1, XAUt, PAXG, wBETH and FDUSD, and BEAM’s issuer burned 984 million stolen tokens. [2]

BeInCrypto, a crypto news site, in a report republished by Yahoo Finance, the 30th of October 2026

Performance

In the three months to the 1st of November 2026, the token rose 289.7%. The wider gaming market fell 10.2% across the same three months.

  • In the week to the 1st of November 2026, the token rose 89.8%. The wider gaming market rose 1.6%.
  • That week it ranked 4th of the 79 gaming tokens that gained.
  • It trades 87% below its all-time high, set in March 2024. The wider gaming market sits 95% below its own.
BEAM against Gaming Token Index – Composite over the 92 days to the 1st of November 2026.
BEAM and Gaming Token Index – Composite, day by day: data table
DateBEAMGaming Token Index – Composite
2026-08-02100.0100.0
2026-08-0399.797.7
2026-08-0499.993.3
2026-08-0599.694.9
2026-08-0697.192.9
2026-08-0796.594.2
2026-08-0897.1100.8
2026-08-0996.5109.1
2026-08-1095.190.3
2026-08-1194.185.5
2026-08-1293.686.4
2026-08-1392.783.7
2026-08-1493.981.2
2026-08-1593.478.4
2026-08-1691.478.5
2026-08-1791.277.5
2026-08-1888.776.3
2026-08-1996.378.6
2026-08-2098.882.2
2026-08-21108.588.1
2026-08-22107.288.0
2026-08-23105.187.9
2026-08-24101.687.0
2026-08-2598.785.4
2026-08-2699.185.4
2026-08-27124.087.3
2026-08-28109.286.2
2026-08-29108.086.5
2026-08-30106.086.3
2026-08-31106.485.1
2026-09-01104.184.8
2026-09-02112.184.8
2026-09-03109.987.9
2026-09-04106.986.0
2026-09-05108.987.7
2026-09-06110.487.8
2026-09-07106.589.0
2026-09-08107.788.9
2026-09-09108.987.7
2026-09-10104.584.4
2026-09-11109.785.1
2026-09-12110.585.9
2026-09-13117.487.1
2026-09-14118.587.5
2026-09-15108.683.8
2026-09-16109.183.2
2026-09-17117.386.2
2026-09-18124.190.9
2026-09-19126.492.6
2026-09-20126.891.9
2026-09-21132.797.5
2026-09-22132.499.1
2026-09-23132.696.7
2026-09-24139.899.1
2026-09-25147.3102.0
2026-09-26147.9102.5
2026-09-27148.6103.9
2026-09-28139.499.2
2026-09-29142.4100.6
2026-09-30136.097.0
2026-10-01141.498.7
2026-10-02147.2103.9
2026-10-03147.6107.5
2026-10-04179.6110.2
2026-10-05176.5110.2
2026-10-06172.9107.8
2026-10-07178.6104.8
2026-10-08179.2101.3
2026-10-09184.7103.4
2026-10-10184.2105.3
2026-10-11189.7105.5
2026-10-12192.1102.7
2026-10-13201.2100.7
2026-10-14205.796.6
2026-10-15194.696.6
2026-10-16204.795.3
2026-10-17203.495.0
2026-10-18191.390.2
2026-10-19206.892.4
2026-10-20221.395.2
2026-10-21221.399.0
2026-10-22212.991.1
2026-10-23230.192.1
2026-10-24219.489.5
2026-10-25205.388.4
2026-10-26231.588.3
2026-10-27232.189.1
2026-10-28235.690.3
2026-10-29232.486.9
2026-10-30315.987.9
2026-10-31353.489.4
2026-11-01389.789.8
How far the token and Gaming Token Index – Composite moved over each window, to the 1st of November 2026.
BEAM against Gaming Token Index – Composite: data table
WindowBEAMGaming Token Index – Composite
1 year+13.23%-64.39%
6 months+188.99%-24.27%
3 months+289.66%-10.21%
1 month+164.80%-13.59%
BEAM over the week, beside the gaming tokens that moved most in the same direction rather than the ones closest to it.
BEAM against the biggest movers in its group: data table
TokenReturn
BEAM+89.8%
RFOX+211.1%
ESPORTS+111.5%
PYR+100.7%
REKILL+65.9%

More on the story

The Beam Foundation published its Q3 2026 treasury report on the 23rd of October 2026. The treasury’s value, not counting its BEAM, rose 7.72% in the quarter, to $160,041,171 on the 30th of September 2026. It also held 12,425,313,673 BEAM across four networks, valued at $24.56 million. [3] The foundation said its written treasury reports would now come out once a year. Its treasury dashboard would keep receiving quarterly updates. [4] The report said the treasury is run over several years, with most assets in long-term ventures. [3]

The report said the treasury’s assets are not controlled by BEAM holders or held on their behalf. It said holders can still exert some checks on the foundation. The next written report would cover all of 2026. [3]

References

  1. ↑ (Etherscan, the Ethereum transaction record, the 29th of October 2026) Source
  2. ↑ (BeInCrypto, a crypto news site, in a report republished by Yahoo Finance, the 30th of October 2026) Source
  3. ↑ (Beam Foundation, in its Q3 2026 treasury report, the 23rd of October 2026) Source
  4. ↑ (Beam Foundation, on X, the 23rd of October 2026) Source
  5. ↑ (Beam, in its documentation for the BEAM token) Source
  6. ↑ (Sphere, the marketplace on Beam, the Forgotten Playland Player Profile collection) Source
  7. ↑ (Sphere, the marketplace on Beam, the Dremica Season 0 Resources collection) Source
  8. ↑ (Sphere, the marketplace on Beam, the Forge Keys collection) Source

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Games in this story

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