Binance hacked for an estimated $6.3 billion in record crypto theft
Cryptocurrency exchange Binance has been hit with a record $6.3 billion hack.
Cryptocurrency exchange Binance suffered a massive cyber attack that led to an estimated $6.3 billion loss, according to The New York Times. This would be a record loss if the figure is accurate. The attack was reportedly facilitated by a compromised laptop of a disgruntled DevOps engineer. Binance has suspended withdrawals and promised to cover all losses using its SAFU fund.
The company also froze $3 billion worth of assets on-chain. Binance's founder, Changpeng Zhao, had previously pleaded guilty to a felony related to money laundering but was pardoned by Donald Trump in 2025. Binance has a business relationship with the Trump family's crypto business. Crypto platforms Tether and Circle also froze significant amounts of funds associated with the attack.
Security research firm TRM Labs attributed the attack to North Korea's elite hacking unit, TraderTraitor. The hack's scale has raised concerns about centralized exchanges' safety and prompted reassessment of risks among investors.
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- Crypto platform Binance confirms US$6.3bn hack news.rthk.hk
- Binance pledges to cover all losses from a ~$6.3B hack, potentially the largest crypto theft ever, surpassing the $1.5B Bybit hack in February 2025 (South China Morning Post) scmp.com
- Binance freezes assets following historic $6.3 billion crypto exchange heist dailytimes.com.pk
- $6.3bn gone, N Korea link: Inside crypto heist at world's largest exchange Binance timesofindia.indiatimes.com
- Crypto markets slide as Binance probes $6.3B security breach, aims to resume withdrawals in 48 hours seekingalpha.com
