The historic intrusion was carried out across multiple vulnerability points rather than a single compromised employee device. Binance managed to swiftly freeze about half of the $6.3 billion in stolen funds before the perpetrators could fully launder the capital. Although transactions were briefly halted across the platform, the company later clarified that user deposits remain safe and unaffected. Chainalysis and TRM Labs noted the operation heavily mirrored tactics previously used in a $1.5 billion hack against Bybit.
Key points
Binance has committed to covering all customer losses to protect its user base of over 30…: Binance has committed to covering all customer losses to protect its user base of over 300 million people.
The perpetrators utilized advanced anti-forensic techniques designed to destroy operation…: The perpetrators utilized advanced anti-forensic techniques designed to destroy operational tooling and severely complicate ongoing investigations.
Experts observe that North Korea continues to deploy systemic cryptocurrency theft to gen…: Experts observe that North Korea continues to deploy systemic cryptocurrency theft to generate revenue amid stringent international sanctions.
Sources checked by our analysis pipeline: 1
Crypto giant Binance attempting to recover $6.3bn stolen in 'complex' hack
- Published
Binance, the world's largest cryptocurrency exchange, says it has recovered around half of the funds stolen in a "complex" hack on its systems, after $6.3bn (£4.7bn) was accessed during what is believed to be the biggest ever crime of its kind.
The company later said it had managed to freeze around $3bn of its stolen digital assets, though many were still in the hands of unidentified hackers.
Binance said initial checks suggested an engineer's laptop had been compromised, allowing unauthorised withdrawals, but a subsequent investigation pointed to a wider attack.
Several analytics firms have linked the cyber-attack, which eclipses a record-setting $1.5bn (£1.12bn) heist on the Bybit exchange in 2025, to a North Korean hacking unit.
Binance said it was working with law enforcement agencies, including the FBI in the US, following the hack.
The company also told its users "your money is safe, and we're covering every loss".
Binance had initially suspended all deposits and withdrawals - but then said in an update that "deposits remain…
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