Binance Suffers Record $6 Billion Crypto Hack

Binance, the world's largest cryptocurrency exchange, experienced a major security breach on October 29, with hackers stealing approximately $6.36 billion in digital assets. According to Reuters and BBC, the attack represents the largest crypto theft on record, surpassing all previous incidents in scale. The hackers succeeded in moving these assets out of Binance wallets across ten different blockchains, with most of the transfers occurring within a span of about 20 minutes. Binance confirmed a security incident and took immediate action by freezing over $2.5 billion in assets and suspending withdrawals on several networks. Major stablecoin issuers, including Tether and Circle, together froze $2.38 billion to help limit the losses. Blockchain-tracing firms TRM Labs and Pangolin Intelligence attributed the attack to North Korea's TraderTraitor, the same state-sponsored hacking group linked to the previous Bybit exchange hack. Binance and its partners are actively investigating in cooperation with law enforcement, assuring users that their funds remain secure despite the unprecedented breach.