GoKawiilBinance suspends withdrawals after $6.3 billion crypto hack
Binance has halted all withdrawals following what it calls an estimated $6.3 billion loss, the largest crypto theft on record. The exchange says hackers compromised an engineer's laptop to withdraw funds, though it has since found additional breach points, while analysts estimate attackers converted roughly $3.3 billion into untraceable assets. Binance says it has reserved over $6.34 billion in company funds to cover the losses and is working with law enforcement.
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Blockchain analysis firm TRM Labs has linked the attack to North Korea's TraderTraitor hacking unit, which was also blamed for last year's $1.5 billion Bybit theft, suggesting state-backed actors are escalating attacks on major exchanges. A Seoul-based analyst warns such thefts could worsen given North Korea's hacking expertise and the protection it affords its operatives. The breach also compounds reputational pressure on Binance, which already paid a $4.3 billion US fine in 2023 over anti-money laundering violations.
- Binance estimates a $6.3 billion impact from the hack and has suspended all withdrawals.
- Analysts say attackers moved about $3.3 billion into assets that cannot be frozen, complicating recovery.
- TRM Labs links the breach to North Korea's TraderTraitor group, which was also tied to last year's $1.5 billion Bybit hack.
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See Ledger Nano X Hardware Wallet on Amazon → Affiliate link — we may earn a commission on purchases, at no extra cost to you. Product picked by AI based on this article; it is not a tested recommendation.Source: arstechnica.com, 2026-10-30
Published there as: “Hackers steal $6.3 billion from Binance in record crypto heist”
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