Binance moves to recover 6.3 billion dollars after record cyber attack

Cryptocurrency exchange Binance reported that hackers breached its systems and impacted approximately 6.3 billion dollars in digital assets, according to the BBC, NPR, and TechCrunch. The theft is widely believed to be the largest cyber attack of its kind in history. Binance stated that it has frozen roughly half of the affected funds, securing 3 billion dollars, as the stolen assets moved across various blockchains. [1][2][4][6]

The company initially suspected that an engineer's laptop was compromised to permit unauthorized withdrawals, but later revealed that the breach was broader, the BBC and TechCrunch reported. Multiple analytics and security research firms have linked the attack to a North Korean hacking unit, according to the BBC and TechCrunch. The United States Secret Service confirmed it is working around the clock to identify those responsible. [1][4]

The 6.3 billion dollar incident surpasses a 1.5 billion dollar cyber heist on the Bybit exchange in 2025, the BBC reported. As FTMQ Business reported earlier, Binance was founded in 2017 by Changpeng Zhao and operates without an official company headquarters. The latest market disruption occurs alongside broader pressures on digital assets stemming from elevated United States interest rates. [1][15][17]

Binance is seeking to resolve the security breach and aims to resume user withdrawals within 48 hours, according to Seeking Alpha Markets. Security researchers noted that the exact amount of stolen cryptocurrency may change as investigations continue and the incident remains ongoing. [4][5]