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Binance Says Hackers Stole $6.3 Billion in What Could Be Largest Crypto Theft
Hackers stole $6.3 billion from Binance in what could be the largest crypto theft on record, Binance says.
Key points
- Binance said it froze roughly $3 billion in affected assets and later updated that figure to $5 billion.
- Binance said deposits were unaffected and withdrawals are suspended, with resumption expected in a day or two.
- TRM said most of the funds left Binance wallets on 10 blockchains in about 20 minutes.
Why it matters. If the attack is confirmed, TRM says it would be the largest cryptocurrency theft on record, and it matches earlier North Korea-linked heists such as the Bybit hack.
Blockchain firm TRM said North Korea's TraderTraitor unit was likely behind the theft of $6.3 billion from Binance, the world's biggest crypto exchange, in a Thursday post. Binance said it froze roughly $3 billion in affected assets and later raised that figure to $5 billion on Friday afternoon. Deposits were unaffected and Binance will cover all losses, while withdrawals are suspended and expected to resume in a day or two.
Latest updates
Binance Says Hackers Stole $6.3 Billion in What Could Be Largest Crypto Theft
Binance said in a new statement that it has found multiple points of breach linked to the hack. A U.S.-based blockchain intelligence firm says a North Korean unit was likely responsible. The firm's assessment has not been independently confirmed in the material available. The incident is described as potentially the largest cryptocurrency theft on record. Binance is the world's biggest crypto exchange by trading volume, so the breach has wide implications for users and the wider digital asset market. Further details on recovered funds and the investigation's next steps have not yet been released.