By — Kaitlyn Huamani, Associated Press Kaitlyn Huamani, Associated Press By — Chan Ho-him, Associated Press Chan Ho-him, Associated Press Leave your feedback Share Copy URL https://www.pbs.org/newshour/world/what-to-know-about-the-6-3b-hack-on-binance-likely-the-biggest-ever-crypto-theft Email Facebook Twitter LinkedIn Pinterest Tumblr Share on Facebook Share on Twitter What to know about the $6.3B hack on Binance, likely the biggest-ever crypto theft World Oct 31, 2026 11:14 AM EDT Binance, the world's biggest cryptocurrency exchange, said Friday that hackers stole more than $6 billion in what appears to be the largest cryptocurrency heist on record. Blockchain firms have pointed to the attack coming from a North Korean hacking unit. The company said it has reserved more than $6.34 billion of company funds to cover the stolen assets and was beginning to recover assets for users. Binance worked with blockchain partners to freeze roughly $3 billion in affected assets. WATCH: $6 billion cryptocurrency heist puts investors on edge The cryptocurrency exchange has promised to cover all losses, and it has been sharing regular updates on its social media channels as it uncovers more information about the hack. "We are working…
What to know about the $6.3B hack on Binance, likely the biggest-ever crypto theft
In short
The intrusion began through multiple vulnerabilities, including an initially compromised laptop, enabling perpetrators to rapidly transfer billions of dollars across platforms. Although the exchange collaborated with industry partners to successfully freeze roughly half of the targeted funds, analysts warn the remaining unrecovered assets are currently being laundered through tumblers and mixers. Binance has reserved more than $6.34 billion of its own capital to reimburse affected customers while international law enforcement works to track the culprits.
Key points
- Analytics firms TRM and Chainalysis attributed the massive attack with high confidence to…: Analytics firms TRM and Chainalysis attributed the massive attack with high confidence to North Korea's TraderTraitor hacking unit.
- Binance has allocated more than $6.34 billion in company reserves to completely cover cus…: Binance has allocated more than $6.34 billion in company reserves to completely cover customer losses resulting from the incident.
- United States officials, confirmed by President Donald Trump, are actively investigating…: United States officials, confirmed by President Donald Trump, are actively investigating the breach and examining North Korean state involvement.