Overview
- Binance disclosed on Friday that roughly $6.3 billion in crypto was stolen in a cyberattack and that the company has paused deposits and withdrawals while it investigates.
- The exchange said it froze about $3 billion in assets and pledged to use customer‑protection funds and its own capital to cover all customer losses.
- Binance’s initial probe found a developer’s laptop may have been used as an entry point but later identified multiple intrusion routes and confirmed attackers gained unauthorized on‑chain transfer permissions.
- Blockchain analysts at TRM Labs reported operational similarities to the 2025 Bybit breach and attributed the operation to North Korea’s TraderTraitor, noting attackers used pre‑obtained signatures to execute rapid mass withdrawals and automated tools to erase activity traces.
- Markets fell on the outflow and investigations and asset‑tracing are ongoing, with regulators and law enforcement likely to increase scrutiny and with recovery of stolen funds remaining uncertain for customers.