Record Crypto Heist Swipes $6.3 Billion From Binance
The biggest crypto theft in history happened faster than the average American’s commute. Hackers stole most of their $6.3 billion haul from Binance in roughly 20 minutes yesterday, leaving the world’s largest digital coin exchange scrambling to cover losses.
No other crypto theft comes close to this one. It’s four times larger than last year’s then-record hack of Bybit, and almost twice as big as all 2025 crypto thefts combined. Binance’s co-CEO said that the exchange suspended withdrawals until it passes “rigorous testing,” which he said should wrap up sometime this weekend.
In the meantime:
- Binance and its partners have frozen $3 billion of the stolen assets, with $3.3 billion still in the wind.
- The exchange said it would cover all losses, but it plans to dip into company funds to do so—its emergency reserve for cyberattacks only held $1.23 billion in bitcoin (which got slightly devalued after the hack spooked crypto markets).
Whodunit? A group of hackers may have broken into an engineer’s laptop, Binance said. The FBI is investigating, but blockchain analysts already think this was the work of the same North Korean hacker group that allegedly targeted Bybit last year.
“Bad time to troll,” Binance’s co-founder posted on X in response to a post from Elon Musk that appeared to mock the exchange.—ML
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