Binance major hack freezes US$2.5 billion in funds
Binance has reported a major security breach involving approximately US$6.3 billion in funds, with about half of the assets frozen following intervention by blockchain partners. Security experts suspect the North Korean-linked Lazarus Group, specifically the TraderTraitor unit, is responsible for the attack.
Why it matters
This represents one of the largest cryptocurrency heists in history, highlighting ongoing security vulnerabilities in major exchanges and the persistent threat of state-sponsored cybercrime.
Binance is the world’s largest crypto exchange by daily trading volumes.
Listen NEW YORK – Cryptocurrency platform Binance said on Oct 29 it had fallen victim to a major hack that hit around US$6.3 billion (S$8.05 million) in funds, with about half that amount frozen to prevent a massive theft.
The company said later on its X account for Latin America that “the total estimated impact is around US$6.3 billion”.
“We have worked with blockchain partners to freeze the affected assets, with about US$3 billion frozen on-chain so far,” it added.
That would be four times the amount impacted in what had been the biggest-ever cyberattack of its kind to date: US$1.5 billion taken in February 2025 from the Bybit platform.
The Bybit heist was attributed at the time to a group of hackers affiliated with North Korea called TraderTraitor.
Headlinne story · 8 newsrooms
Binance Freezes Billions After Record Cryptocurrency Exchange Cyber Heist
What every outlet reported, where they differ, and how each framed it →
Also covering this story
14 other newsrooms covered this event. We read each version separately.
Binance pauses withdrawals as hackers suspected of stealing billions in crypto
Potential multi-billion Binance hack hitting crypto markets
Binance was hit by the biggest crypto hack ever, losing about $6.3 billion
Binance and Polymarket are investigating potential hacks. The former says it's frozen around $3 billion.
Crypto giant Binance freezes $2.5bn of assets over suspected hack
Binance crypto exchange confirms major hack, more than $2.5 billion frozen
World's largest crypto exchange Binance freezes $2.54bn after suspected hack
Blockchain intelligence firms link North Korea to $6.3B hack on Binance
Hackers steal $6.3 billion from Binance in record crypto heist
Binance hackers stole $6.3 billion in record-breaking crypto heist
The $6.3 Billion Binance Hack Was Pulled Off in Just 20 Minutes
North Korea Linked To $6.3 Billion Binance Hack In Biggest Crypto Heist Ever
Binance 'potential security issue' sees $2.54 billion frozen
Crypto giant Binance hit by hack suspected to be largest in history
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in