Binance has been hit by the largest heist in cryptocurrency history, with hackers stealing $6.3 billion from users. This attack far surpasses the previous record set in February 2025, when hackers stole $1.5 billion from the crypto exchange Bybit. The FBI has identified the North Korean state-sponsored unit known as TraderTraitor as the entity responsible for the attack.
Binance executives have scrambled to recover the funds and announced that they have replaced 90 percent of the stolen assets using company funds, setting aside approximately $6.34 billion to cover losses. The remaining 10 percent of the missing assets consist of tokens that are less liquid.
The exchange plans to resume user withdrawals by Sunday, subject to security checks, as part of a pledge to fully reimburse customers. This record-breaking heist demonstrates the growing power of suspected North Korean hackers and underscores an urgent need to address security within the crypto industry.