THE INDEPENDENT · 2026-10-30 19:47 UTC

Long accused of abetting crypto crimes, Binance has now become a victim

Binance and founder Changpeng Zhao, long accused of enabling crypto crimes, were targeted in what appears to be the largest cryptocurrency heist in history, with hackers allegedly stealing an estimated $6.3 billion in bitcoin from customers. Zhao was sentenced to prison in 2024 for violating the Bank Secrecy Act by allowing trades with Iran and failing to report suspicious transactions linked to terrorist groups, but was later pardoned by Trump. Binance, founded in 2017, grew to become the world's largest crypto exchange by trade volume, with Zhao's net worth estimated at over $100 billion.

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