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Hackers Steal $6.3 Billion From Binance in Record Crypto Heist

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Hackers Steal $6.3 Billion From Binance in Record Crypto Heist

Hackers have stolen $6.3 billion from Binance, the world’s largest cryptocurrency exchange, in the biggest crypto theft ever. The attack breaks the previous record by a wide margin. It also comes at a hard time for digital assets, which were already under pressure from higher U.S. interest rates and weaker demand from exchange-traded fund buyers. Analysts say it could shake faith in crypto and in the exchanges that hold it.

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According to Reuters, most of the theft happened in about 20 minutes starting late Thursday (Oct. 29). TRM Labs and Chainalysis, two U.S. firms that trace crypto transactions, said they’re highly confident North Korea was responsible. TRM said the attackers got Binance’s wallets to empty into wallets the hackers controlled. That mirrors the 2025 heist at the exchange Bybit, which the FBI blamed on Pyongyang. North Korea routinely denies such claims.

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Binance said a hacked laptop belonging to one of its engineers may have been the entry point. The exchange halted withdrawals and expects to restart them within 48 hours. It has located about $3 billion of the stolen funds but didn’t say what happened to the remaining $3.3 billion. Co-CEO Richard Teng said on X that the company will cover every loss.

Analysts didn’t mince words. Aravind Srinivasan at market maker GSR told Reuters it’s the biggest hack in history.


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