Binance, the world’s largest cryptocurrency exchange, has suffered what is being described as the largest crypto theft on record, with about $6.3 billion in assets taken — roughly four times the previous record Bybit hack. The exchange has pledged to cover all losses from company funds, setting aside more than $6.34 billion.
Binance’s initial investigation points to a compromised laptop belonging to a DevOps engineer, which let an attacker reach a service container and submit unauthorised withdrawal transactions in about 20 minutes. The company says no wallet private key evidence has leaked. Around $3 billion of assets passing through hacker-linked wallets has been identified and frozen, with stablecoin issuers Tether and Circle among those blocking funds.
Markets reacted sharply, with major tokens falling 7-12 percent and Bitcoin hitting a six-week low. Experts stress the incident points to company operational security, not a flaw in blockchain itself — a warning for anyone holding assets on a centralised exchange. Withdrawals were temporarily suspended while the investigation continues.
Sources: Khaleej Times, Oman Observer (Binance statement). Written in our own words for information only.