GoKawiilBinance suffers estimated $6.3 billion hack, suspends withdrawals
Binance disclosed a cyberattack resulting in an estimated $6.3 billion loss, which would make it the largest crypto theft on record, surpassing last year's $1.5 billion Bybit hack. The exchange has suspended withdrawals for a security overhaul while keeping deposits open, and says it has worked with partners to freeze roughly $3 billion of the stolen funds, with Tether and Circle separately freezing $1.5 billion and $800 million tied to the attack. Binance says it will cover all losses through its SAFU fund and company reserves.