Crypto Exchange: Biggest Crypto Theft Ever? Binance Reports Hacking Attack
According to Binance, a total of assets worth approximately $6.3 billion are affected. A specific hacker group is already suspected to be behind the attack.
The largest cryptocurrency exchange, Binance, fell victim to a hacker attack of epic proportions, resulting in losses estimated at $6.3 billion (approximately €5.63 billion). Binance temporarily halted all deposits and withdrawals amid the crisis. In a statement on the X platform, the exchange assured users that their holdings remained "secure" and vowed to reimburse all losses incurred.
Partner institutions have frozen digital currency units worth around $3 billion. Yi He, co-founder of Binance, pledged that the company would "cover all losses from the hacker attack." Initial investigations suggest the breach might have started with a compromised laptop belonging to an engineer, enabling the attacker to gain access to a system and conduct unauthorized withdrawals.
TRM Labs, an analysis firm, attributed the attack to North Korean hackers from the TraderTraitor group. TRM's findings indicate that the perpetrators moved the majority of the stolen $6.36 billion within a mere 20 minutes, making this the most significant cryptocurrency exchange heist to date. The previous largest attack, in early 2025, saw roughly $1.5 billion in crypto assets stolen from the Binance rival Bybit, also blamed on North Korean hackers.
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