Bitcoin stolen in Binance hack is likely ‘gone,’ Ballet says

Binance has reported a security incident involving the theft of approximately $6.3 billion in assets, an event described by Moneyweb as the largest to hit digital assets. The exchange stated that the attack appeared to be triggered by a hacker gaining access to an engineer's compromised laptop to make unauthorised transactions. According to 3News and City AM, the company has suspended all deposits and withdrawals, though it expects to resume withdrawal services within 48 hours.

The company has frozen about $3 billion of the affected funds. While City AM reports that the remaining half of the funds are in the hands of the hackers, RTHK News - Finance notes that the attackers shifted most of the funds across 10 blockchains in about 20 minutes. Binance has pledged to cover all losses using its own funds and the Secure Asset Fund for Users (SAFU), stating that user funds are safe.

Blockchain intelligence firm TRM stated with high confidence that the attack was carried out by North Korea’s hacking unit, TraderTraitor, noting similarities to a 2025 hack on the Bybit exchange. RTHK News - Finance also noted that US blockchain analysis firm Chainalysis linked the hackers to the Democratic People’s Republic of Korea. Following the breach, The National Business reported that Bitcoin fell 4.5 per cent to $76,664.

Brief written by urgent.news from Moneyweb, 3News, City AM, RTHK News - Finance, The National Business — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.