Binance hit by $6.3-billion hack, the biggest crypto heist ever
Blockchain analysts TRM Labs and Chainalysis say the attackers behind the raid were from North Korea.
Hackers stole US$6.3-billion from Binance, the world’s largest cryptocurrency exchange, in what analysts say is the biggest crypto hack ever, an attack that could prompt investors to rethink the risks of owning digital assets.
The hackers behind the raid were from North Korea, according to US blockchain analysis firms TRM Labs and Chainalysis. The attackers targeted Binance wallets on 10 blockchains and shifted most of the funds in about 20 minutes, TRM Labs said in a statement.
Binance said it had worked with partners to freeze the affected assets, with about $3-billion located so far. It did not mention the status of the remaining $3.3-billion. Co-founder Yi He said the exchange would cover “all hacking losses”.
Binance said deposits were unaffected and it expected to resume withdrawals within 48 hours.
TRM said several features of the attack matched earlier heists linked to North Korea, including the 2025 hack of crypto exchange Bybit that the US Federal Bureau of Investigation attributed to Pyongyang. “We make this judgment with high confidence,” it said.
North Korea’s mission in Geneva and its embassy in China did not immediately respond to requests for comment.
“It’s the biggest hack in history,” said Aravind Srinivasan, head of the systematic over-the-counter business at GSR, a large crypto market maker.
