BUSINESS TIMES SG · 2026-10-30 13:12 UTC

Binance estimates US$6.3 billion hacked in crypto's biggest heist

Binance, the world's largest crypto exchange, suffered a US$6.3 billion hack attributed to North Korea by blockchain intelligence firms, the largest in crypto industry history. The exchange suspended all withdrawals on Friday and pledged to cover all losses, with about US$3 billion of assets frozen on blockchain networks and withdrawals expected to resume by Sunday. Bitcoin fell below US$77,000 on the news, the first time in over a month, as the breach raises concerns about industry confidence and AI-enabled cyber threats.

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