Crypto platform Binance confirms major hack, more than $2.5b frozen
Some said it could be the biggest-ever cyberattack of its kind, with a haul exceeding the $1.5 billion stolen in February 2025 from the Bybit platform.
Cryptocurrency giant Binance announced it was the victim of a significant cyberattack, with over $2.5 billion in assets frozen to prevent theft. The world's largest crypto exchange by daily trading volume suspended trading on certain products during the incident. Former Binance CEO Changpeng Zhao, still a majority shareholder, stated that users' funds remain secure.
Industry experts consider this a massive heist, similar in scale to a February 2025 hack that stole $1.5 billion from Bybit, believed to be linked to North Korean hackers. Stablecoin issuers Circle and Tether also froze $800 million and $1.6 billion respectively, related to the potential Binance hack. These stablecoins are digital currencies pegged to the US dollar.
Before Binance confirmed the attack, some observers suspected hackers had already infiltrated the platform. Bitcoin's value dropped more than three percent following the news.
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