Crypto giant Binance hit by $6.3bn hack suspected to be largest in history

Cryptocurrency exchange Binance suffered a massive $6.3 billion digital asset theft, believed to be the largest crypto hack in history. The exchange, which has over 300 million users, reported that approximately half of the stolen assets have been frozen but many remain with the hackers. Binance stated it would cover all losses and is cooperating with law enforcement to identify the criminals.

The attack is suspected to be the work of a North Korean hacking unit known as TraderTraitor or Lazarus Group, according to analytics firm Check Point. This incident surpasses the previous record $1.5 billion hack on Bybit exchange in 2025. The attack's complexity suggests the attacker was able to gain access to Binance's systems through a compromised engineer's laptop, allowing them to submit unauthorized withdrawal transactions.

Binance CEO Richard Teng said there is no evidence of a single wallet private key leak, but an ongoing post-mortem investigation will provide more details. Other major crypto platforms, including Tether and Circle, froze around $2.4 billion in assets in response to the potential Binance hack.