GoKawiilBinance Loses $6.3 Billion in Crypto to Hackers, Suspends Withdrawals
Binance has suspended withdrawals after a breach that drained $6.3 billion in digital assets in roughly 20 minutes. The exchange says it froze about $3 billion with partners, while research firm TRM Labs estimates $2.4 billion has moved beyond recovery. Binance pledged to cover all losses from reserve funds and is investigating with law enforcement.
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TRM Labs told the New York Times it has high confidence the theft was carried out by North Korea's state-linked hacking unit, echoing the group blamed for last year's Bybit breach, which suggests state-sponsored actors may be increasingly capable of hitting even the largest exchanges. The scale of the loss could renew scrutiny of exchange security practices and regulatory oversight, especially given founder Changpeng Zhao's past guilty plea and subsequent pardon tied to political connections.
- Hackers stole $6.3 billion from Binance in about 20 minutes.
- Roughly $3 billion was frozen, but TRM Labs says $2.4 billion is likely unrecoverable.
- Researchers suspect North Korean state-linked hackers, similar to the 2024 Bybit attack.
Ledger Nano X Hardware Wallet — With billions in crypto stolen from exchanges, keeping your own assets in cold storage rather than on a platform is more important than ever. The Ledger Nano X lets you hold your private keys offline, away from exchange-based hacks like the one described in this story.
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: futurism.com — Maggie Harrison Dupré, 2026-10-30
Published there as: “It Took Hackers Just 20 Minutes to Steal $6.3 Billion in Crypto from a Single Platform”
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