Crypto exchanges including Coinbase and Kraken moved to strengthen security and called for faster information-sharing after a record hack of Binance worth $6.3 billion, which analysts attribute to North Korea. Binance halted withdrawals and said it will use company funds to cover losses, with initial findings pointing to a compromised engineer's laptop that gave an attacker access to a service container. Tether froze nearly $1.57 billion linked to Binance and Circle froze $800 million, while Binance said about $3 billion in assets is frozen so far. Binance expects withdrawals to resume within 48 hours of its Friday update.
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Keywords
cryptocybersecurityBinancestablecoinsNorth Korea
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Related tickers and likely impact
BNB/USDT
▼ Likely negativeBNB
Relevance: high
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Exchange tokens |
| Market cap | $97.5B |
| Close on 10/30/2026 | 704.42 |
| Change that session | +0.85% |
BTC/USDT
▼ Likely negativeBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/30/2026 | 77,368.77 |
| Change that session | -0.80% |
ETH/USDT
▼ Likely negativeEthereum
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $285.6B |
| Close on 10/30/2026 | 2,245.54 |
| Change that session | -0.34% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
Related news
- TRM and Chainalysis Tie $6.4B Binance Hack to North Korea's TraderTraitor
TRM Labs and Chainalysis have both attributed the Binance hack to TraderTraitor, the North Korean group the FBI blamed for the $1.5 billion Bybit hack. TRM put the theft at about $6.36 billion, moved from Binance wallets on 10 blockchains mostly within about 20 minutes from 4:05 p.m. ET on Thursday, while Chainalysis put it at about $6.4 billion and saw stolen funds mixing with proceeds of the Bitget exploit. The attacker holds more than 420,000 ETH and 18,270 BTC, about $2.4 billion beyond any issuer's reach, while issuers including Tether and Circle have frozen about $2.67 billion in stablecoins. Binance has reserved more than $6.34 billion of company funds to cover losses, $5 billion of it already held in the stolen tokens.
- World's Largest Crypto Heist: Hackers Steal $6.3 Billion From Binance in Just 20 Minutes
Binance, the world's largest cryptocurrency exchange, lost $6.3 billion to hackers in a record heist that TRM Labs and Chainalysis attribute to North Korea. According to the two firms, most of the attack took place within about 20 minutes starting late on October 29, with assets moved to wallets controlled by the hackers. Binance said the initial cause was a compromised laptop belonging to an engineer, that about $3 billion has been located, and that withdrawals are expected to resume within 48 hours, while it did not address the status of the remaining $3.3 billion. Bitcoin hit a six-week low of $76,368, Ether fell to $2,178, and BNB dropped 5% to $709.70.
- Binance says it holds $5B in matching tokens to cover hack losses
Binance said it has set aside more than $6.34 billion in company funds to cover losses from the hack, including $5 billion already held in the same tokens that were stolen, in Binance custody. The spokesperson did not disclose when the assets were acquired or the wallet addresses, but said the holdings will appear in the next proof-of-reserves report, and noted that its weekly reporting requirement to the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market predates the hack. Binance has yet to confirm which tokens it still needs to buy, when those purchases will finish, or how much stolen crypto has been recovered. The exchange confirmed the $6.3 billion hack, the largest cryptocurrency theft on record; TRM Labs said funds were drained from wallets across 10 blockchains on Thursday and attributed the attack to North Korean group TraderTraitor. About $3 billion of affected assets has been frozen and excluded from the funds set aside.
- Live updates: Binance $6.3B hack linked to North Korea’s TraderTraitor
Binance estimates the total impact of the breach at about $6.3 billion, with roughly $3 billion in crypto frozen so far. Withdrawals are paused for a security overhaul and expected to resume within 48 hours, while deposits operate normally. The exchange said the breach may have started with a compromised DevOps engineer's laptop, though it found no evidence of a wallet private-key leak. Chainalysis, TRM Labs and other analysts attribute the attack to North Korea-linked TraderTraitor, and Chainalysis put the theft at $6.4 billion. Standard Chartered said the hack could push more trading toward decentralized exchanges such as Uniswap, while Bitcoin fell 4.9% over 24 hours to about $76,937.
- North Korea’s TraderTraitor linked to $6.3B Binance hack
Crypto investigators TRM Labs, Chainalysis and onchain investigator ZachXBT have linked the $6.3 billion Binance hack to North Korea’s TraderTraitor group. TRM Labs said it attributed the attack with “high confidence,” while ZachXBT said funds stolen from Binance and the earlier Bitget exploit were commingled at the same address after moving through THORChain, indicating the same actor is likely behind both. Chainalysis co-founder and CEO Jonathan Levin put the amount stolen at $6.4 billion, slightly above Binance’s estimated $6.3 billion impact, and said the group was likely responsible. The article also notes US authorities have tied TraderTraitor to major thefts, including the February 2025 Bybit hack and the more than $300 million DMM Bitcoin theft in May 2024, and that the FBI says the group targets employees through social engineering.
- Crypto's longtime foe, North Korea's Lazarus Group, likely behind Binance hack: blockchain sleuths
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