Binance hit by record-breaking cyberattack resulting in $6.3 billion loss

On October 29, 2026, the cryptocurrency exchange Binance suffered a massive security breach resulting in the theft of approximately $6.3 billion in digital assets. The attack was executed within approximately 20 minutes, with hackers gaining access to the platform's internal systems through a compromised laptop belonging to an engineer. The breach affected various blockchain networks, including Bitcoin, Ethereum, Tron, and Solana.

Preliminary reports and blockchain analysis from firms such as TRM Labs and Chainalysis suggest the involvement of the North Korean-linked hacking group TraderTraitor. The hackers allegedly performed preparatory test transactions 36 hours before the main breach. In response, Binance suspended all deposits and withdrawals to contain the incident and began working with security agencies to freeze approximately $3 billion of the stolen funds. By October 31, Binance CEO Richard Teng announced that the company had utilized its Secure Asset Fund for Users (SAFU) and internal corporate capital to replenish 90% of the lost assets, committing to cover the remaining 10% soon.

This incident is widely cited as the largest digital theft in financial history, far exceeding previous records such as the 2025 Bybit breach. Investigations into the full extent of the vulnerability and the perpetrators' activities remain ongoing as the industry faces increased scrutiny regarding digital asset security.