WSJ · 2026-10-30 11:57 UTC

The Binance Hack: What to Know

Binance, the world's largest crypto exchange, was hacked for $6.3 billion in various cryptocurrencies, with about $3 billion frozen by stablecoin issuers Tether and Circle. North Korean state-sponsored hackers (TraderTraitor unit) are attributed to the attack, which began by compromising a single engineer's laptop and extracted most funds within 20 minutes. Binance said user funds are safe, will cover losses from reserves, and expected to reopen withdrawals within 45 hours.

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