Hackers stole about $6.3 billion from Binance, the world’s largest cryptocurrency exchange, in what analysts are calling the biggest crypto heist on record, Reuters reported Friday.
Binance halted withdrawals and promised to make customers whole. The Associated Press reported that deposits were paused as well, though the exchange told Reuters deposits were unaffected.
About $3 billion of the stolen assets has been located and frozen so far. The fate of the remaining $3.3 billion is unclear.
U.S. blockchain analysis firms TRM Labs and Chainalysis both said they were highly confident North Korea was behind the attack. TRM pinned it on what it called North Korea’s elite hacking unit.
TRM said the attackers hit Binance wallets on 10 blockchains and moved most of the money in about 20 minutes, beginning late Thursday. The firm said the method mirrored the 2025 hack of exchange Bybit, which the FBI attributed to Pyongyang.
North Korea routinely denies using cyber units to steal money. Its diplomatic missions did not immediately respond to requests for comment.
A Hacked Laptop
Binance said an initial investigation suggests the breach may have started with a compromised laptop belonging to one of its engineers. That foothold let an attacker reach one of the exchange’s systems and make unauthorized withdrawals.
“Our security team is tracing the full attack path through the compromised computer which may be the entry point of the incident,” the company said.
“Your money is safe and we’re covering every loss,” co-CEO Richard Teng wrote on X. “Our investigation has not attributed responsibility to any individual.” Binance expects to resume withdrawals within 48 hours.
Chainalysis’ Eric Jardine said the firm had confirmed at least $5.912 billion stolen as of 8:30 p.m. ET Thursday, according to a separate Reuters roundup.
Stablecoin issuer Tether froze nearly $1.57 billion linked to the theft, and Circle froze more than $800 million. Ripple froze about $200 million, and World Liberty Financial, the crypto firm tied to President Trump’s family, helped freeze about $29 million.
The news rattled crypto markets. Bitcoin fell to a six-week low of $76,368 and ether hit a two-month low of $2,178 before prices steadied, Reuters said. Shares of Coinbase, which said it was unaffected, slid 4.8% in extended trading.
“It’s the biggest hack in history,” said Aravind Srinivasan of market maker GSR.
Tim Sun, a senior researcher at HashKey Group in Hong Kong, warned the breach “may further dampen risk appetite and prompt investors to reassess the safety of assets held on centralised exchanges.”
Binance has 335 million registered users and held about $162.8 billion in customer assets as of its 2025 annual report. Its emergency fund for users holds $1 billion in bitcoin, according to the exchange’s website.
The theft dwarfs the industry’s earlier losses. TRM Labs researchers counted $2.9 billion stolen across nearly 150 crypto attacks in all of last year, and exchange Bitget reported a roughly $350 million theft just last month.
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