(Al Jazeera Media Network) Binance, the world’s largest cryptocurrency exchange, says hackers have stolen about $6.3 billion in what appears to have been the biggest crypto heist on record.
The company, which was co-founded by the Chinese-born Canadian billionaire Changpeng Zhao, suspended deposits and withdrawals on Thursday and said it would cover all losses, telling Al Jazeera in a statement that user funds were “safe”.
Two United States blockchain analysis firms have claimed the attack originated in North Korea.
What happened?
Blockchain analysis firms TRM Labs and Chainalysis say most of the theft unfolded over about 20 minutes, starting late on Thursday.
“An attacker moved approximately 6.36 billion USD out of Binance wallets on 10 blockchains,” TRM reported.
That dwarfs the previous record of $1.5 billion, which was stolen from the exchange Bybit in February 2025.
Binance said about $3 billion of that has since been frozen, including more than $2.3 billion by stablecoin issuers Tether and Circle, according to Reuters news agency.
Binance has not stated what has happened to the remaining $3.3 billion.
It also warned on X that the $6.3 billion figure “may continue to increase” as the company works to trace and freeze more assets.
Binance itself has faced legal trouble. Founder Changpeng Zhao pleaded guilty in 2023 to a felony linked to failing to prevent money laundering on the platform. US President Donald Trump pardoned him in 2025.
On Friday, Binance said it was coordinating with law enforcement and remained on track to resume withdrawals within 45 hours.