Security3 min
Binance says hackers took about $6.3 billion and pledges to cover all customer losses
Binance, the world's largest crypto exchange, says a hack drained about $6.3 billion from its wallets, and it has pledged to cover all losses. It has suspended deposits and withdrawals, and says early findings point to a compromised laptop of a DevOps engineer (who runs its systems) as the possible way in. Blockchain analysis firm TRM Labs says the North Korea-based group TraderTraitor did it, across 10 blockchains, mostly in about 20 minutes. Binance says it has frozen $3 billion in crypto assets, and Tether and Circle have frozen billions of dollars of their coins. Binance.US says it is not affected.
Affects you: If you hold crypto on Binance, you cannot move it for now. The South China Morning Post says this could be the largest crypto theft ever, above the $1.5 billion Bybit hack in February 2025. The investigation is ongoing.