Binance lost about $6.3 billion in Thursday's hack. It is the largest crypto theft on record in dollar terms, roughly four times the $1.5 billion taken from Bybit in February…
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Binance lost about $6.3 billion in Thursday's hack. It is the largest crypto theft on record in dollar terms, roughly four times the $1.5 billion taken from Bybit in February 2025. The drain started …
Binance lost about $6.3 billion in Thursday's hack. It is the largest crypto theft on record in dollar terms, roughly four times the $1.5 billion taken from Bybit in February 2025. The drain started at 4:05 PM ET on Oct 29. TRM Labs says most of it left Binance wallets in about 20 minutes, across 10 blockchains. Binance has set aside $6.34 billion to cover users. $5 billion of that is already held in the exact tokens that were stolen, about 80% of the loss. It is buying the rest through the market and OTC desks. About $3 billion has been frozen on-chain, almost all of it $USDT and $USDC. The attacker still holds 18,270 $BTC split across 19 wallets. Elliptic says none of it has reached an exchange or service yet. TRM and Chainalysis attribute the theft with high confidence to TraderTraitor, a North Korean state hacking unit. No government has confirmed it. Trump on Friday: "We don't know. We're looking at that." The FBI and Secret Service are both involved. TRM counts $12.8 billion stolen by North Korea since 2017. $7.4 billion of it came this year. Binance is targeting a phased restart of withdrawals early Sunday. Proof of reserves results are due Monday.
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