Binance has frozen approximately $3 billion in cryptocurrency assets following a major security breach that reportedly exposed about $6.3 billion across multiple blockchain networks.
The incident, which occurred on October 29, 2026, is being investigated as a potential record-breaking cryptocurrency theft. Preliminary findings from Binance suggested that attackers gained access through a compromised laptop belonging to a DevOps engineer, allowing unauthorised withdrawals from the exchange’s hot wallets.
The attack reportedly affected at least 10 blockchain networks, with funds moved within approximately 20 minutes. The assets involved included Bitcoin, Ethereum and stablecoins.
Binance said it had found no evidence that wallet private keys were compromised. The exchange temporarily suspended deposits and withdrawals while working with security firms, blockchain networks and law enforcement agencies to trace the affected funds.
Around $3 billion has reportedly been frozen, mainly involving USDT and USDC stablecoins. However, recovering the remaining assets could prove more difficult because cryptocurrencies such as Bitcoin and Ethereum do not have central issuers that can freeze individual holdings.
Blockchain intelligence firms have linked the incident with high confidence to TraderTraitor, a hacking group associated with North Korea.
Binance has pledged to cover customer losses through its Secure Asset Fund for Users (SAFU) and corporate resources. The incident has also renewed concerns about the security of centralised exchanges and the risks associated with storing digital assets in internet-connected wallets.
The breach is larger than the $1.5 billion Bybit hack recorded in 2025, previously regarded as the biggest cryptocurrency theft on record.
The incident also unsettled cryptocurrency markets, with Bitcoin falling below $78,000 and digital asset markets recording approximately $1.5 billion in liquidations.
Binance said it had revoked affected address authorisations and would publish a detailed technical report after completing its investigation.
