Binance Loses US$6.3 Billion in Record Hack
Binance says hackers took about US$6.3 billion on Thursday, the largest crypto theft on record, and analysts blame North Korea. The post Binance Loses US$6.3 Billion in Record Hack appeared first on The Rio Times .
On Thursday, 29 October 2026, hackers stole approximately US$6.3 billion from Binance, one of the world's largest cryptocurrency exchanges. This was the largest crypto theft on record, causing significant impact across multiple exchanges. Binance immediately paused withdrawals across several networks as it investigated the incident.
The outflows began at 20:05 UTC, or 4:05 p.m. in New York, moving across ten blockchains within about 20 minutes, according to blockchain analysis firm TRM Labs. Binance's co-chief executive Richard Teng described the attack as complex, and the company has identified compromised laptop systems belonging to an engineer as a potential point of entry.
Analysts link the theft to North Korea's hacking unit, TraderTraitor, which is also blamed for the Bybit theft in February 2025. Binance claims it has found no evidence that any wallet private key was leaked. To date, about US$3 billion of stolen funds has been frozen on the blockchain with help from partners. Binance states it will cover all losses using company funds and its SAFU reserve.
They project withdrawals may resume by Sunday, 1 November. While many users' funds are reportedly safe, it is advised to wait for Binance's Proof of Reserves before making large withdrawals. Bitcoin and other cryptocurrencies fell in price following the news, while US-listed crypto companies experienced declines in stock value.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
