Binance Reports $6.3B in Crypto Stolen in Major Security Breach

Cryptocurrency exchange Binance has reported an estimated $6.3 billion in stolen assets following a major security breach on October 29. The incident is potentially the largest crypto theft on record. The exchange said it would cover all user losses, while investigators trace the stolen funds and work to freeze them.

Binance’s preliminary investigation points to a compromised laptop belonging to a DevOps engineer. The attacker may have used access to an internal service to submit unauthorized withdrawal transactions. The exchange said it had found no evidence that wallet private keys were leaked, although the investigation is ongoing.

Binance has worked with blockchain partners to freeze approximately $3 billion in affected assets. It temporarily suspended withdrawals while conducting security checks and said deposits were operating normally. The exchange expects withdrawals to resume once the security work is complete and has pledged to cover all losses through its Secure Asset Fund for Users (SAFU) and company funds.

Blockchain investigators have linked the attack to North Korea’s TraderTraitor hacking group, which is associated with the Lazarus Group. TRM Labs said it had high confidence in the attribution, citing on-chain and off-chain intelligence. It has also been assessed that the North Korean group likely carried out the theft, while investigator ZachXBT pointed to connections between funds from the Binance incident and an earlier Bitget exploit.

Binance has not confirmed the attribution, but it is cooperating with law enforcement to identify those responsible. TraderTraitor has previously been linked by US authorities to major crypto thefts, including the February 2025 attack on Bybit.