Gizmodo Binance Suffers $6.3 Billion Hack, Users Urged to Secure Assets
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- •Binance reported a $6.3 billion hack, the largest in crypto history.
- •The exchange has temporarily halted withdrawals but assures users their assets are safe.
- •Cybersecurity experts suspect state-tied North Korean hackers are behind the attack.
On October 29, 2026, Binance reported a security incident resulting in the theft of $6.3 billion in customer assets, marking it as the largest crypto hack to date. The exchange temporarily suspended all withdrawals and deposits while assuring users that their assets are safe and that losses would be covered using its Secure Asset Fund for Users. Binance co-CEO Yi He stated that the stolen amount represents only about 2% of the company's total assets. The hack is suspected to involve state-tied North Korean hackers, and approximately $3 billion of the stolen crypto has reportedly been frozen. Users are advised to limit their exchange holdings, be wary of scams, and monitor their credentials due to the heightened risk of follow-up attacks. Withdrawals are expected to resume by October 31, 2026, pending security checks. The incident has caused a significant but contained market reaction, with crypto prices experiencing volatility.
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