Binance investigates suspected record crypto hack as billions in funds are frozen

Summary

Binance, the world's largest cryptocurrency exchange, is investigating a suspected security breach that outlets describe as potentially the largest crypto theft on record. The exchange paused withdrawals on Thursday, October 29, and said user funds remain safe and that it would cover all losses, though Channel NewsAsia noted its posts on X were sometimes contradictory. Reported figures vary widely: BleepingComputer cited a potential breach of up to $5.8 billion, several outlets cited $6.3 billion, and ABC reported up to $8.9 billion stolen with about $4.2 billion frozen. Channel NewsAsia reported more than US$2.5 billion frozen, while The Verge cited around $3 billion of the affected assets. A blockchain intelligence firm attributed the attack to North Korean state-sponsored hackers, and two analytics firms linked it to a North Korean hacking unit called TraderTraitor.

Timeline

1. Hindustan Times

   29 Oct 2026, 21:44 UTCSource ↗

   Hindustan Times reports that Binance said user funds remain safe amid reports of a potential hack, and that it is investigating and warning users against scams and unofficial links.

2. TechCrunch

   29 Oct 2026, 22:27 UTCSource ↗

   TechCrunch reports that Binance paused withdrawals and that some estimates say hackers stole billions in crypto from the exchange during a cyberattack on Thursday.

3. BleepingComputer

   29 Oct 2026, 22:45 UTCSource ↗

   BleepingComputer reports that Binance is investigating a potential security breach involving up to $5.8 billion in digital assets, which could become the largest cryptocurrency hack in history.

4. Al Jazeera

   30 Oct 2026, 00:29 UTCSource ↗

   Al Jazeera reports that Binance says $6.3bn was stolen in what it calls the biggest crypto heist in history, and that a blockchain intelligence firm attributes the attack to North Korean state-sponsored hackers.

5. Channel NewsAsia

   30 Oct 2026, 01:45 UTCSource ↗

   Channel NewsAsia reports that Binance confirmed a major hack with more than US$2.5 billion frozen, and that its sometimes contradictory posts on X said "user funds are completely safe" but that it would "cover all losses".

6. ABC

   30 Oct 2026, 04:02 UTCSource ↗

   ABC reports that up to $8.9 billion in crypto funds have been stolen from Binance, with approximately $4.2 billion frozen.

7. BBC

   30 Oct 2026, 05:15 UTCSource ↗

   The BBC reports that Binance has been hit by a $6.3bn hack suspected to be the largest in history, and that two analytics firms attributed it to a North Korean hacking unit called TraderTraitor.

8. Bloomberg

   30 Oct 2026, 05:50 UTCSource ↗

   Bloomberg reports that Binance said $6.3 billion of funds have been impacted in what the industry describes as crypto's biggest-ever hack.

9. Engadget

   30 Oct 2026, 08:24 UTCSource ↗

   Engadget reports that Binance has been hit with an estimated record $6.3 billion hack.

10. The Verge

    30 Oct 2026, 11:44 UTCSource ↗

    The Verge reports that Binance disclosed $6.3 billion in crypto funds stolen from the platform, believed to be the biggest cryptocurrency hack on record, and that in updates posted to X it said user funds are safe and around $3 billion of the impacted assets had been addressed.

11. The Guardian

    30 Oct 2026, 16:35 UTCSource ↗

    The Guardian reports that Binance says it will cover customer losses as it freezes about $3bn of the affected assets, and that experts identify North Korea as the likely culprit behind the $6.3bn hack.