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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.
Security researchers have attributed a record-breaking crypto heist at Binance to hackers tied to North Korea, with at least $6.3 billion stolen from the exchange's wallets. Binance says roughly half of the stolen funds were frozen as they moved across blockchains, and the company has suspended all deposits and withdrawals while it investigates. Binance said the breach began when attackers compromised an engineer's laptop, gaining access to a service container to submit unauthorized withdrawal transactions, though it says there is no evidence its private keys were exposed.
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.
Binance, the world's largest cryptocurrency exchange, was reportedly the target of a $6.3 billion theft attributed to a North Korean hacking group. The breach, disclosed Friday, triggered declines in bitcoin and other major tokens as crypto markets reacted to the news.
On October 29, attackers siphoned roughly $6.3 billion in cryptocurrency from Binance wallets spanning at least ten blockchains, with most funds taken within a 20-minute window, according to tracing firm TRM Labs. Binance suspended deposits and withdrawals and says it has helped freeze about half the stolen crypto while investigating the breach.
Binance, the world's largest cryptocurrency exchange, has frozen withdrawals after attackers stole roughly $5.6 billion across multiple cryptocurrencies including Tether, Bitcoin, Ethereum and Circle dollars. Security firm TRM has attributed the breach to TraderTraitor, a North Korean state-linked hacking group also blamed for last year's $1.5 billion Bybit hack. Binance says it initially traced the breach to a compromised laptop but has since found additional entry points, and insists user funds remain safe and losses will be covered.
Binance suffered a cyberattack on October 29 that drained roughly $6.36 billion across ten blockchains, according to blockchain intelligence firm TRM Labs, which said most funds moved within about 20 minutes. The exchange suspended withdrawals, later saying it had frozen about $3 billion of the stolen assets with partners' help and would cover all customer losses, with withdrawals expected to resume within a day or two. Binance initially blamed a compromised DevOps engineer's laptop but has since said investigators found additional breach points, calling it a complex attack.
Binance said attackers gained access to a DevOps engineer's compromised laptop and used it to reach a service container, enabling them to submit unauthorized withdrawal transactions. Co-CEO Richard Teng said the attack was more complex than a single engineer's permissions being exploited, and the company has not attributed blame to any individual. Binance has suspended deposits and withdrawals, revoked authorizations for the affected address, and says it will cover losses via its SAFU fund and company reserves.
Four U.S. officials told Reuters that the military is investigating a suspected cyberattack on freezer systems at base commissaries, after the equipment malfunctioned and spoiled frozen goods including ice cream. The incident is being treated as a possible hacking case rather than a routine mechanical failure.
Microsoft says China state-aligned hackers breached ConnectWise's cloud backup service and stole application credentials used to link ConnectWise with corporate customers' Microsoft-hosted environments. Using AI agents to automate sign-in attempts at nearly 3,000 per minute, the attackers gained access to roughly 2,250 organizations' emails and files. ConnectWise has paused access to the affected backup system and is investigating while working to restore service.
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Kaspersky researchers identified a Lazarus Group operation, dubbed FlashHole, that uses the ML-KEM-1024 post-quantum cryptographic standard to secure communications between malware and its command-and-control servers. The campaign, active since July 2025, uses phishing pages linked to crafted GitHub sites to trigger a multi-stage infection chain involving tools like LPEClient, TechHub, and ClientHub, with at least three South Korean firms in software, construction, and telecom equipment confirmed as targets.