Binance suffered a $6.3 billion digital currency theft on Thursday, the largest exchange heist ever recorded, NBC News reported. The company suspended all deposits and withdrawals while working with law enforcement to secure its systems and locate the stolen funds. The breach originated from a compromised laptop that allowed an attacker to enter a service container and execute unauthorized withdrawal transactions.
About $3 billion in assets routed through hacker-linked wallets has been identified and frozen, according to Binance. The platform announced on X that user funds remain safe and pledged to cover all financial losses. Unlike traditional bank deposits, assets stored on cryptocurrency exchanges are not automatically insured against theft.
Asset freezes and market reaction
Stablecoin issuers moved quickly to lock tokens tied to the breach. Tether froze more than $1.567 billion worth of its digital currency, Chief Executive Paolo Ardoino announced on X. Circle also froze hundreds of millions of dollars in assets and is coordinating with law enforcement, Chief Executive Jeremy Allaire said. Following news of the attack, Bitcoin fell about 4.3 percent and Ethereum dropped 4.6 percent.
Past breaches and leadership
The theft surpasses the previous record from February 2025, when North Korean hackers stole $1.5 billion from Bybit. Digital currency platforms have faced frequent attacks, including an incident in 2025 where thieves stole customer data from Coinbase and attempted a $20 million extortion, which Coinbase refused to pay.
Former Binance chief executive Changpeng Zhao stated that, as a shareholder, he expects all user funds will be fully covered. Zhao stepped down from the exchange in 2023 after pleading guilty to breaking federal anti-money-laundering laws, and President Donald Trump later granted him a full pardon.
