Binance, the world’s largest cryptocurrency exchange, has reported a security breach involving the alleged theft of $6.3 billion, in what could become the biggest cryptocurrency heist in history.
The company disclosed on Thursday that it had temporarily suspended deposits and withdrawals following the incident, while approximately $3 billion of the stolen funds had reportedly been frozen.
According to Binance, preliminary investigations indicated that the attackers carried out unauthorised transactions after gaining access to an engineer’s compromised laptop.
The exchange assured customers that their funds remained safe, pledging to absorb all financial losses resulting from the security breach.
In a statement to Al Jazeera, Binance said its technical teams were working round the clock to contain the incident and restore normal operations.
The company also confirmed that it was collaborating with law enforcement agencies to identify and prosecute those responsible, adding that a detailed technical report would be released after investigations were concluded.
Binance founder and major shareholder, Changpeng Zhao, had earlier acknowledged that the platform appeared to have suffered a hacking incident.
Meanwhile, blockchain intelligence firm TRM said it had assessed with high confidence that the attack was linked to North Korea’s cybercrime unit, TraderTraitor, which investigators have associated with the notorious Lazarus Group.
TRM’s Global Head of Policy, Ari Redbord, described the incident as unprecedented, warning that large-scale cryptocurrency thefts linked to North Korea could have wider international security implications.
He noted that proceeds from such cyberattacks could potentially finance weapons proliferation and other destabilising activities.
The incident has also triggered concerns across the cryptocurrency market, with Bitcoin reportedly falling by approximately five per cent to below $77,000 following news of the breach.
Crypto market expert at Macquarie University, Sydney, Sean Foley, warned that the attack could undermine investor confidence, particularly among retail traders who rely on centralised cryptocurrency exchanges.
Foley added that the incident could encourage more investors to consider decentralised trading platforms, stressing that assets held on centralised exchanges remain exposed to the security risks of their operators.
The reported $6.3 billion breach would significantly surpass the previous record cryptocurrency theft of $1.5 billion, stolen from Bybit in 2025 in an attack attributed to North Korea’s state-backed Lazarus Group.
According to TRM’s 2026 Crypto Crime Report, cybercriminals stole approximately $2.87 billion in digital assets across nearly 150 hacking incidents in 2025.
Founded in 2017 by Zhao, Binance reportedly manages approximately $155 billion in assets, making it the largest cryptocurrency exchange globally, according to CoinMarketCap.
