A look at Binance's efforts to contain the hack, including creating a global war room of ~100 people, coordinating with other crypto firms and the FBI, and more (Bloomberg)

Binance experienced a $6.3 billion cyber theft, described as the largest cryptocurrency hack in history, which occurred on or about October 29, 2026. The FBI attributed the attack to North Korean malicious cyber activity involving an entity known as TraderTraitor, the same actors behind a $1.5 billion Bybit hack last year. The FBI observed the actors converting stolen assets primarily into Ethereum and expects they will use DeFi and instant swap services to further launder the funds.

While the FBI identified North Korea as responsible, President Donald Trump suggested during a Saturday night appearance that investigators might not yet be certain of North Korean involvement.

To contain the incident, Bloomberg reported that Binance created a global war room of approximately 100 people and coordinated with the FBI and other crypto firms. Following the hack, Binance temporarily suspended withdrawals to investigate and stabilize its systems. According to Live Mint, the exchange recorded net outflows of $3.6 billion after restoring withdrawals on Sunday, though it noted the total included transfers between the company's own wallets and that the surge eventually eased.

Binance pledged to reimburse customers in full to ensure users do not bear the financial losses. Daily Post Nigeria reported that the company used its own funds to replenish 90 percent of the stolen assets, noting that the remaining 10 percent consisted of less liquid tokens that may take longer to source. Live Mint reported that the exchange has replaced about 95 percent of the stolen cryptocurrency.

Brief written by urgent.news from Techmeme, Live Mint, Daily Post Nigeria, PBS NewsHour, The Verge — 5 reports on this story. Machine-written — may contain errors; check the original before relying on it.