Hackers have stolen approximately $6.3 billion worth of cryptocurrency from Binance, the world’s largest cryptocurrency exchange, in what has been described as the biggest crypto theft on record.
The attack, which occurred on Thursday, October 29, saw hackers move about $6.36 billion from Binance wallets across 10 different blockchain networks, with most of the funds transferred within 20 minutes.
US-based blockchain intelligence firm TRM Labs has attributed the attack to TraderTraitor, an elite North Korean hacking group known for targeting cryptocurrency platforms.
The firm said its conclusion was based on intelligence gathered both on and off the blockchain, adding that it had a high level of confidence in the attribution.
Binance confirmed the security breach, saying it was working with law enforcement agencies and industry partners to investigate the incident and recover the stolen assets.
The exchange disclosed that approximately $3 billion worth of the affected funds had been located and frozen through cooperation with cryptocurrency partners.
Binance also suspended withdrawals as a security measure, while assuring customers that deposits were unaffected and promising to cover all losses.
An initial investigation suggested that a compromised laptop belonging to one of its engineers may have provided attackers with access to its systems. However, the company later disclosed that investigators had uncovered additional points of breach.
The incident has raised fresh concerns about security in the cryptocurrency industry, particularly as the scale of the theft surpasses the $1.5 billion stolen from crypto exchange Bybit in February 2025.
Binance said it was continuing its investigation and working to establish the identities of those responsible.
