Binance halts withdrawals after hack it estimates affected about $6.3 billion

The world's largest crypto exchange says around $3 billion of the affected assets has been frozen. TRM Labs links the attack to North Korea's TraderTraitor unit.

Binance suspended all withdrawals after an attack that it estimates affected about $6.3 billion in assets. An initial investigation suggested hackers compromised an engineer's laptop, and on 30 October Binance said further points of breach had been found.

About $3 billion, mostly stablecoins, has been frozen, according to Binance. Tether froze about $1.5 billion of USDT and Circle froze $800 million of USDC. Elliptic said the attacker had converted roughly $3.3 billion into assets that cannot be frozen, such as ETH. Binance said it has reserved over $6.34 billion of company funds to cover the losses and found no evidence that private keys were breached. Co-chief executive Yi He said withdrawals should resume within 48 hours.

TRM Labs called it the largest crypto theft on record, far above the $1.5 billion North Korean hackers took from Bybit last year. According to Chainalysis, North Korean hackers stole about $2 billion in crypto in 2025. Bitcoin fell about 4 percent after the news before recovering to above $78,000.

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