Binance hack hits $6.3 billion, biggest crypto theft on record
ITF Team1 min read
Binance confirmed a breach that froze $3 billion and impacted $6.3 billion in assets, prompting a pull‑back in withdrawals and a market dip in Bitcoin.
The world’s largest crypto exchange disclosed Friday that a security breach affected roughly $6.3 billion of client assets, with about $3 billion frozen on‑chain. The incident, now the biggest crypto theft ever recorded, sent Bitcoin down more than 4% to $77,994.96 and rattled broader digital‑currency markets.
Recovery effort and SAFU coverage
Binance said it has begun recovering the compromised assets and will cover losses through its Secure Asset Fund for Users (SAFU), a reserve created in 2018 for exactly this type of event. The exchange temporarily halted withdrawals, revoked the compromised address authorizations and expects to resume the service within 48 hours.
Investigation and possible perpetrators
Initial statements hinted at a compromised DevOps engineer’s laptop, but co‑CEO Richard Teng later described the attack as a more sophisticated operation. Blockchain‑intelligence firms TRM Labs and Chainalysis both pointed to a North Korean cybercrime group, citing patterns similar to the Bybit and KelpDAO hacks earlier this year. The FBI confirmed it is working with public and private partners to assess the scope and coordinate investigations.
What traders are watching
- Bitcoin’s reaction to further news – any rebound or deeper decline
- Key support levels for BTC around $77,000 and $75,000
- Updates from Binance on withdrawal resumption and fund recovery
- Potential regulatory or legal actions against the suspected North Korean actors
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This article is compiled from international market news for information only. It is not investment advice.