Binance recovers from record 6.3 billion dollar cyberattack

On October 29, 2026, the global cryptocurrency exchange Binance suffered a massive cyberattack, resulting in the theft of approximately 6.36 billion dollars in digital assets. The incident, believed to be the largest in history, was executed in about 20 minutes by compromising a developer's laptop, which allowed attackers to access and drain funds from various hot wallets across ten blockchain networks, including Bitcoin, Ethereum, Tron, and Solana.

The FBI has formally attributed the operation to the North Korean-linked hacker group TraderTraitor. In response, Binance suspended withdrawals and deposits, committing its own corporate funds and reserves, including the Secure Asset Fund for Users (SAFU), to cover the losses. As of early November, the exchange confirmed it has recovered or replaced 95% of the stolen assets, assuring users that they will not bear the financial impact.

Following the resumption of services on November 1, the platform experienced a temporary spike in withdrawal activity, with net outflows reaching 3.64 billion dollars, representing 2.1% of its total managed assets. While the firm works to recover the remaining 5% of funds—which consist of less liquid tokens—it reports that withdrawal volumes have since stabilized to normal levels. Authorities, including the FBI and private blockchain analysts, continue to monitor the situation, noting that some stolen funds were traced to conversion attempts into Ethereum.