Cryptocurrency exchange Binance has reported a security breach involving an estimated $6.3 billion in digital assets, in what could become the largest cryptocurrency hack in history.
The world’s biggest crypto exchange said about $3 billion of the affected assets had been frozen, while a significant portion remained under the control of the attackers.
Binance also assured customers that it would cover all losses arising from the incident, using funds from its Secure Asset Fund for Users (SAFU) and company resource
Binance further promised to publish a detailed technical report after completing its investigation and verifying the facts. It also plans to release an updated proof of reserves after the remediation process.
The exchange said it was cooperating with law enforcement partners to identify those responsible and recover the stolen funds.
North Korean hackers suspected
Although the identity of the attackers remains unconfirmed, two cryptocurrency analytics firms have linked the incident to a North Korean hacking group known as TraderTraitor.
Blockchain intelligence firm TRM Labs said several features of the Binance attack resembled previous incidents associated with North Korean-linked hackers.
These included the $1.5 billion attack on cryptocurrency exchange Bybit in 2025, which was attributed to the Lazarus Group, a North Korean-linked hacking network.
Chainalysis, another blockchain analytics firm, also said it had high confidence that the North Korean group was connected to the latest b
reach.Within about two weeks, they had reportedly converted at least $300 million into unrecoverable funds.
Bybit co-founder and chief executive Ben Zhou later said the company had recovered about $48.4 million, while another $30.5 million had been frozen.
Binance, founded in 2017, is the world’s largest cryptocurrency exchange, with hundreds of millions of registered users worldwide.
The latest breach comes amid continued regulatory scrutiny of the company across several jurisdictions.
The investigation remains ongoing, with Binance promising further updates as it works with law enforcement and blockchain intelligence partners.
