NEW YORK TIMES · 2026-10-31 14:29 UTC

How Binance's $6.3 Billion Hack Went Down

North Korean hackers breached Binance and stole over $6 billion in digital coins, the largest crypto heist ever, forcing the exchange to halt deposits and withdrawals. Binance's executives including co-CEO He Yi managed the crisis through internal messaging and conference calls while founder Changpeng Zhao publicly reassured customers on X that user funds were safe. The attack is part of a pattern of major hacks targeting crypto exchanges; Binance itself faced $4.3 billion in penalties in 2023 for anti-money-laundering violations.

Loading the story on Tree News…