Binance said it had worked with industry partners to freeze the affected assets, with approximately $3 billion located so far. The company has not provided an update on the remaining $3.3 billion. Binance co-founder Yi He said the company would cover all losses resulting from the hacking incident.
The breach adds to a growing list of high-profile cryptocurrency thefts that have exposed vulnerabilities in digital asset platforms, blockchain networks and decentralised finance (DeFi) services. These incidents have raised questions about the industry's ability to safeguard customer funds and could prompt investors to reassess the risks associated with digital assets.
Reuters has documented several major cryptocurrency thefts since Bitcoin emerged in 2008, with some incidents resulting in hundreds of millions of dollars in losses and significant consequences for affected platforms and their customers.
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Bybit Suffers $1.5 Billion Cryptocurrency Theft
In February 2025, cryptocurrency exchange Bybit suffered a theft involving digital tokens valued at approximately $1.5 billion, according to the timeline of major cryptocurrency hacks reported…