Binance Breached: $6.3 Billion in Assets Affected, Nearly $3 Billion Frozen

Binance, the world's largest cryptocurrency exchange, said on Thursday that a "security incident" on its platform affected roughly $6.3 billion worth of assets. According to the company, nearly $3 billion of that has already been frozen on-chain.

Who froze the funds

Stablecoin issuers joined the effort. Tether froze more than 1.567 billion USDT, while Circle froze 800 million linked to the incident. The Arbitrum Security Council also reportedly executed a transaction freezing about $30.5 million from the exploit.

How the breach happened

Initial findings point to a compromised laptop belonging to a DevOps engineer. Through it, the attacker gained access to a service container and was able to submit unauthorized withdrawal transactions.

Binance stresses that there is no evidence of a wallet private key leak. The exchange says it will cover all losses from its Secure Asset Fund for Users (SAFU) and its own funds.

Steps taken

As a precaution, the company has:

• temporarily suspended deposits and withdrawals while security checks are completed;
• revoked the affected address's authorization;
• engaged law enforcement and blockchain intelligence partners to trace and recover the funds.

"We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice," Binance said.

An industry record

The incident is the largest cryptocurrency heist recorded to date. The previous record belonged to the February 2025 attack on Bybit, in which about $1.5 billion was stolen; that attack was later attributed to North Korea.

Blockchain intelligence firm Chainalysis estimates the amount stolen at approximately $5.912 billion at the time of the theft, nearly four times the next-largest case.

The story is still developing, and further details are expected.

Source: The Hacker News