Blockchain security teams monitored the perpetrator siphoning assets across 10 blockchains, executing the bulk of the transfers in roughly 20 minutes. About $3 billion of the stolen cryptocurrency was successfully frozen by Thursday night in the United States as tracking operations accelerated. Binance leadership confirmed that user funds remain secure and that the exchange will fully absorb all losses resulting from the complex breach. CEO Richard Teng noted that investigators found no evidence pointing to a wallet private key leak.
Key points
Binance confirmed that all customer balances are secure and the exchange will entirely co…: Binance confirmed that all customer balances are secure and the exchange will entirely cover the financial losses.
CEO Richard Teng clarified that the sophisticated breach showed no evidence of compromise…: CEO Richard Teng clarified that the sophisticated breach showed no evidence of compromised wallet private keys.
Following the attack, the exchange temporarily halted user deposits and withdrawals while…: Following the attack, the exchange temporarily halted user deposits and withdrawals while revoking compromised address authorizations.
Sources checked by our analysis pipeline: 1
Hackers stole approximately $6.36 billion in cryptocurrency from wallets held at Binance, the world's largest cryptocurrency exchange, in what investigators have described as the biggest crypto heist on record. Blockchain analysis firms have attributed the attack to North Korea's elite hacking unit, while Binance has said it will cover all losses and that user funds are safe.
The attack involved the movement of funds across 10 blockchains, with most of the cryptocurrency transferred in about 20 minutes, according to US blockchain analysis firm TRM Labs. As cryptocurrency firms raced to trace and recover the stolen assets, about $3 billion had been frozen by Thursday night in the US, CNN reported.
Binance CEO Richard Teng has since said the attack was more complex than initially described, adding that the exchange has found no evidence of a wallet private key leak.
What happened in the Binance hack?
TRM Labs said an attacker moved approximately $6.36 billion out of Binance wallets across 10 blockchains.
"An attacker moved approximately $6.36 billion out of Binance wallets on ten blockchains, most of it in about 20…
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Investigators believe an attacker routed unauthorized transactions through a compromised DevOps engineer's laptop, prompting an immediate halt to platform deposits and withdrawals. Industry partners and stablecoin issuers quickly collaborated to freeze billions of dollars in associated assets to mitigate potential losses. The massive breach sent immediate ripples through the cryptocurrency market, triggering a sharp decline in major digital asset prices.
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