Hackers steal $6.3 billion from Binance in record heist blamed on North Korea
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Binance hit by $6.3bn cryptocurrency theft as North Korea suspected
Hackers stole $6.3 billion from Binance, the world’s largest cryptocurrency exchange, in what analysts described as a record-breaking theft that raised concerns over confidence in digital assets. Blockchain analysis firms linked the attack to North Korea, although the country has not responded to the allegations.
Cryptocurrency prices fell following the incident, while Binance temporarily halted withdrawals and pledged to cover the losses. The exchange said customer funds remained safe and that it was coordinating with law enforcement and industry partners to recover the stolen assets.
Around $3 billion had been located, with approximately half of the stolen funds reportedly frozen by stablecoin issuers, including Tether, Circle and World Liberty Financial. Binance said it expected to restore withdrawal services within 45 hours, but did not clarify the status of the remaining funds.
The attack unfolded over approximately 20 minutes late on Thursday. Blockchain intelligence firms TRM Labs and Chainalysis said they had a high level of confidence that North Korea was responsible, citing similarities with previous cyberattacks attributed to the country, including the 2025 theft from cryptocurrency exchange Bybit.
North Korea has long been accused by US and South Korean authorities of using state-linked hacking groups to finance its activities through cybercrime and financial theft. Pyongyang routinely denies such allegations.
The incident triggered a broad sell-off across cryptocurrency markets. Bitcoin fell to a six-week low of $76,368, while ether dropped more than 3% to $2,178, its lowest level in two months. Binance-linked BNB declined by 5% to $709.70.
Shares in Coinbase fell 4.8%, while bitcoin investor Strategy dropped nearly 6% in extended US trading. Binance said its secure asset fund, a $1 billion reserve intended to protect users, formed part of its safeguards.
