Binance suffered a historic cyberattack resulting in an estimated $6.3 billion loss in cryptocurrency after hackers gained unauthorized access via compromised wallet-signing infrastructure and engineer systems.
Approximately $6.3 billion in digital assets across ten blockchains was drained within roughly 20 minutes.
Attribution: Blockchain forensic and intelligence firms like TRM Labs and Elliptic attribute the attack to TraderTraitor, a North Korea-linked state-sponsored hacking collective.
In coordination with law enforcement and blockchain partners, around $3 billion of the stolen funds have been frozen on-chain. This includes more than $1.5 billion in USDT frozen by Tether and over $800 million frozen by Circle.
Binance temporarily suspended customer withdrawals and deposits following the breach. Co-CEO Richard Teng and founder Changpeng Zhao stated that all user losses will be covered through company reserves and the Secure Asset Fund for Users (SAFU), with withdrawals expected to gradually resume. [
Bitcoin dropped roughly 5% below $77,000 following the announcement, though broader market contagion remained relatively calm compared to past crypto crises.
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