COINDESK · 2026-10-30 12:13 UTC

Binance arranges $6.34 billion to cover losses from record crypto hack

Binance suffered a $6.3 billion cryptocurrency theft, the largest in crypto history, with attackers draining hot wallets across multiple blockchains in about 20 minutes. The exchange set aside $6.34 billion to cover losses, using $5 billion in matching token assets and purchasing the remainder through public markets and OTC trades to restore user balances one-for-one. Blockchain analysis firms linked the attack to North Korea's hacker group; attackers used sophisticated money-laundering techniques including automated scripts and repeated address circulation to obscure the trail.

Loading the story on Tree News…