Binance Reports $6.3 Billion Stolen in Historic Crypto Heist
The cryptocurrency exchange Binance has confirmed a massive theft of $6.3 billion, marking the largest crypto heist ever recorded.
Binance has suspended all transactions after the theft.
The attack is believed to be linked to North Korean hackers.
Bitcoin's value dropped by 5% following the incident.
Binance, the leading cryptocurrency exchange globally, announced on Thursday that approximately $6.3 billion was stolen in what is now considered the largest crypto heist in history. The company has halted all deposits and withdrawals and has frozen around $3 billion in funds as a precautionary measure following the breach.
The incident reportedly occurred when a hacker gained access to an engineer's compromised laptop, allowing unauthorized transactions. Binance has assured its users that all losses will be covered and that their funds remain secure. In a statement, the company emphasized its commitment to resolving the issue and cooperating with law enforcement to identify the perpetrators.
According to TRM, a blockchain intelligence firm, the attack is attributed to North Korea's hacking group known as TraderTraitor, which is connected to the notorious Lazarus Group. Ari Redbord, TRM's global head of policy, characterized the breach as unprecedented, highlighting that the stolen funds could potentially finance weapons proliferation and other destabilizing activities, thus framing it as a global security concern.
The aftermath of the heist saw Bitcoin's price decline by approximately 5%, dipping below $77,000. Experts warn that the breach could undermine investor confidence in centralized exchanges like Binance, potentially leading to a shift towards decentralized trading platforms. Sean Foley, a crypto market analyst, noted that the risks associated with centralized exchanges are significant, as their large holdings make them prime targets for cybercriminals.
This incident surpasses the previous record for a crypto theft, which occurred in 2025 when the Lazarus Group executed a $1.5 billion heist on Bybit. The 2026 Crypto Crime Report indicated that cybercriminals stole a total of $2.87 billion in crypto assets across nearly 150 hacking incidents in 2025. Founded in 2017 by Changpeng Zhao in China, Binance currently manages assets worth approximately $155 billion, making it the largest exchange in the world.
