North Korea is likely culprit behind $6.3bn crypto hack, ‘largest heist in history’
Binance exchange says it will cover customer losses as it scrambles to freeze affected assets, with about $3bn located so far Q&A: How big a deal is the $6.3bn crypto heist? Tell us: have you been affected by the Binance hack? The world’s largest cryptocurrency exchange has been hit by a record $6.3bn (£4.7bn) hack described as the biggest heist in history, with experts identifying North Korea as…
North Korea is reportedly the perpetrator behind a massive $6.3bn crypto heist, described as the largest theft in history. Binance, the world's largest cryptocurrency exchange, announced it would cover customer losses after freezing $3bn of the affected assets. Analysts believe the attack, which occurred late on Thursday, was unprecedented due to its never-before-seen laundering patterns.
The theft significantly surpasses previous attacks, such as a $1.5bn raid in 2025 and a $1bn heist from Iraq's central bank in 2003. North Korea, known for its history of crypto hacking, is suspected as the culprit, having previously targeted a Dubai-based crypto exchange for $1.5bn. Binance, which has over 335 million registered users and $162.8bn in assets under custody, stated that user funds are safe and that they are covering every loss.
The exchange has temporarily suspended deposits and withdrawals while conducting security checks and tracing affected assets. Markets reacted negatively to the news, with Bitcoin falling 5% in initial Asian trading hours and reaching its lowest level in six weeks.
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