Crypto platform Binance confirms $6.3bn hack

By Beyond Headlines

Business -

Photo: Wikimedia Commons

Cryptocurrency exchange Binance confirmed on Friday that a 'complex attack' affected around $6.3 billion in funds. 

It is reportedly four times the February 2025 $1.5 billion Bybit theft and the largest crypto heist on record.

TRM Labs linked the attack with high confidence to North Korea-affiliated TraderTraitor, part of the Lazarus Group accused in the 2014 Sony Pictures hack, while Elliptic also blamed North Korea-linked hackers.

Binance uncovered additional breach points beyond a DevOps engineer's compromised laptop that drained online hot wallets across several blockchains, though no private keys leaked.

Around $3 billion was frozen, including $1.6 billion in USDT by Tether boss Paolo Ardoino and over $800 million in USDC by Circle chief Jeremy Allaire.

Warning the figure could rise, Binance pledged to cover losses, noting customer balances and deposits were unaffected, and withdrawals would resume within 45 hours.

US President Donald Trump and the FBI said Washington was looking into the hack. 

Amid AI security worries, Bitcoin fell nearly 5 per cent to $76,400 before recovering to $77,300, Ethereum dropped nearly 6 per cent, and BNB tumbled nearly 10 per cent.

Source: AFP

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