Binance security breach impacts about $6.3 billion

techOct 30, 202616622

Binance said a security breach may have affected about $6.3 billion and that teams have frozen roughly $3 billion while investigating. An initial probe indicated the incident may have begun when a DevOps engineer's laptop was compromised, allowing an attacker to access a system and make unauthorised withdrawals, Binance said. The exchange suspended withdrawals and said deposits remain unaffected while security teams, law enforcement, and industry partners trace assets and secure wallet infrastructure. Binance co-founder Yi He pledged the company would cover all hacking losses and the firm reiterated that "user funds are completely safe." Analysts and firms including Chainalysis and GSR described the incident as potentially the largest crypto heist on record, and Tim Sun of HashKey Group warned it could reduce investor appetite for centralised exchanges. Markets reacted immediately, with bitcoin falling more than 3% to about $76,368 and shares of Coinbase and related firms sliding in extended trading. Binance noted it holds a secure asset fund for users and had about $162.8 billion in assets under custody as of its 2025 annual report.

Molly White

@molly.wiki

Updated: Binance estimates its losses at ~$3B+, making this the largest exploit in crypto history — twice the size of 2025’s Bybit hack, now in second place. Binance blames a compromised devops laptop. North Korea, also behind Bybit, is the suspected culprit. www.citationneeded.news/binance-theft/

1651h ago

Cyberoamer3

Hopefully the hacks continue to prove how useless crypto is as a secure store of value.

Magenta Rocks2

I dread the day when we read a headline that says hackers were able to gain access to a country's banking system and drain bank accounts of 'real' money.

Warren Terra1

This would be something like a 10% GDP boost for the DPRK.

themikerobbins.bsky.social1

Wow, kinda seems like this whole crypto thing might be a bad investment

Doremus Jessup1

Does it matter for insurance purposes if it's $3B or $6.3B? bsky.app/profile/nbcn...

Tracy1

Thank you Molly! Very easy to understand breakdown of what happened for those of us who don't know all of the crypto jargon. You are the best!

Quoting this

Greg Pak38

i'm just a simple country lawyer,* so i guess i just don't understand why a company that can lose $3 billion dollars if a single laptop is compromised is allowed to exist? * live in brooklyn, not a lawyer

Frank&Stein4

I could have sworn we were all supposed to get into crypto because blockchain made theft impossible. Fancy that

Lily Lachance 🏳️‍⚧️🚀✍️3

*whistles nochalantly* *orders 2 billion Costco hot dogs*

Tom McKay

@catturd2.bsky.social

I want to point out: Excluding financial crimes like accounting fraud or systematic state/military efforts like the sacking of cities or expropriation, this appears to be the most valuable single theft in the entirety of world history. gizmodo.com/binance-inve...

1792h ago

Tom McKay39

various crypto heists have come in at over $1 billion. largest physical theft appears to be Saddam stealing $1 billion from Central Bank of Iraq. The commander Philetairos stole the royal treasury of Lysimachus in 282 BC, taking 234-308 metric tons of silver to found a dynasty- $535 million today.

Thinking4

A proverbial drop in the bucket.

Daniel Lenski2

The Bitcoin stolen by Razzlekhan's husband was worth about $3.6 by the time they were caught, though "only" $72 million when they did the hack 6 years prior. 🤷🏻‍♂️

Understimulated at rest (delayed retirement arc)1

valuable single theft... That we know about

Quoting this

Alex Wenzel8

When I was on the bus home, it was only 6 years of San Diego MTS bus and rail operations funding. Now it’s close to 13 years of MTS operations funding.

Maya🚂🚃🚄🚅🚆🚇🚈🚉🚊🚝🚞🚋🚌🚎8

congrats to whoever did it

Justin, but halloween pun4

the people running this stuff aren't visionaries, they're just money launderers, and it comes as no surprise that they were liable to theft like this. These are products product designed to make it easier to do rug pulls, conduct illegal business transactions, and gamble.

Sordan Jnodgrass3

do you know how many california burritos you could buy for 6.3 billion dollars

Huey2

In response, local police shot two dogs and a toddler

breadedhamster.bsky.social2

oh no, the fake money got stolen how devastating

assigned cromulent at birth2

Make crime tokens illegal again

Matt Novak

@paleofuture.bsky.social

Binance: “Deposits remain unaffected and continue to operate as normal. Withdrawals remain paused…”

Binance: Service Update
Deposits remain unaffected and continue to operate as normal.
Withdrawals remain paused while our team completes a security revamp of the withdrawal service and its related addresses. We expect to resume within 48 hours, and will update with further details.
The incident stems from multiple factors. Our security team is tracing the full attack path through the compromised computer which may be the entry point of the incident. A comprehensive report with the root cause will follow.
We will continue to share updates through official
Binance channels.

992h ago

Matt Novak178

No, you cannot have your money. But don’t worry, you can still give us money.

Matunos7

Deposits are all unaffected and just out of frame, continuing to operate as normal.

calizaybak.bsky.social5

So you can give them more of your money but you can't get at your money that you've given them. Huh.

Nym4

do I smell a bank run on the largest crypto exchange in history?

Thinking3

$6 billion… ha, thats mice nuts. You need an Air Force for the really big score

Sagittarius A*3

so apparently a dev simply had access that lets you yoink a few billion dollars as one does

Quoting this

Greg Pak58

lololol cool business much legit

Sen. Pumpkin Gogurt56

they probably left. no better time to deposit than now.

Ty Schalter12

*bear sterns in 2008 voice*

🇨🇦Joe Vipond🇨🇦9

there should be a run on this bank

Jeremy Diamond ☕️7

We don't have the money right now but we're good for it. Trust us, we are actively negotiating with the arms dealers, private military contractors, and drug lords who need us to exist.

Narrative Proliferater5

would you like me to warm up that wallet for you, sir?

Nate Bowling3

See, you can still give us your money but we won't give it or your crypto back until further notice Shockingly $BTC is down less that three percent on the day bsky.app/profile/pale...

Constant Screaming3

Hey man, we're totally down to take your money and hand it directly to the DPRK, so what's the problem?

Arrête Mark Carney ⚜️3

Crypto is so good apparently you can’t have your own money.

Derek Young2

This is actually what made me into the Joker. “operate as normal. Withdrawals remain paused…”

nick pants

@nickpants.bsky.social

some personal news: soooo i made a career change… i’m a little nervous about it… but today was my first day working at binance as the head of crypto security and risk management… wish me luck!

604h ago

The Washington Post

@washingtonpost.com

Binance, the world’s largest cryptocurrency exchange, said at least $3 billion in user funds had been frozen as it investigates a massive potential security breach, in what could mark the largest theft of cryptocurrency in history.

222h ago

Brookline Guajo1

«theft of cryptocurrency» 🤣 Oh my god, this one has too many layers

Graham Cluley

@grahamcluley.com

Binance users have finally experienced the crypto dream: $6.3bn moved instantly, anonymously, and with no bank involved. 🙄 www.bbc.co.uk/news/article...

152h ago

Faytuks Network

@faytuksnetwork.bsky.social

Breaking: Blockchain intelligence firm @trmlabs is attributing today's Binance hack to TraderTraitor, North Korea's elite state-sponsored hacking unit. This is based on on-chain and off-chain intelligence, and the firm has come to this conclusion with "high confidence".

132h ago

Lora Kolodny

@lorak.bsky.social

Billions in crypto frozen in Binance hack. Here’s what happens next - www.cnbc.com/2026/10/30/b... by Jenny Lee @cnbc.com

182h ago

Reuters Legal

@legal.reuters.com

A security breach at Binance, the world's largest cryptocurrency exchange, has resulted in an estimated $6.3 billion impact, the biggest crypto heist ever.

112h ago

AZ Intel

@azintel.bsky.social

Binance estimates losses from a security breach at $6.3 billion, saying a compromised DevOps engineer’s laptop may have enabled unauthorized withdrawals. The exchange says it has frozen about $3 billion in assets and will cover all losses through its SAFU fund and corporate funds.

122h ago

MantaHunk 🌎🏳️‍🌈☮️🟧

@mantahunk.bsky.social

$6 billion hack? Anyone who invests in crypto is a fool.

72h ago

Nate Bowling

@natebowling.com

Hackers hit Polymarket for a few million today. Then a presumably different crew hit Binance for *clears throat* at least three billion dollars ($3,000,000,000). www.reuters.com/legal/transa...

74h ago

Peter Vogel

@petervogel.bsky.social

Binance developments... "deposits and withdrawals are temporarily suspended while it conducts security checks, freezes funds and works with law enforcement." apnews.com/article/bina...

34h ago

Flingjore

@flingjore.com

Binance suspends deposits and withdrawals after a security breach forces the freeze of $3 billion in cryptocurrency assets. The platform promises to cover all losses, but returning the frozen digital funds to users requires formal legal proceedings.

42h ago

br00t4c

@br00t4c.bsky.social

Crypto firms freeze more than $3bn in funds as Binance investigates potential hack World’s largest crypto exchange said it had not confirmed whether funds had been pilfered Yikes. www.theguardian.com/business/202...

42h ago

3 sources

reuters.comCrypto exchange Binance freezes assets after $6.3 billion security breach theguardian.comCrypto exchange Binance freezes billions in funds amid potential $6.3bn security breach france24.comBinance security breach has $6.3 billion impact in potential record crypto heist

Binance security breach impacts about $6.3 billiontech

Binance security breach impacts about $6.3 billion

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