PBS · 2026-10-31 15:19 UTC

What to know about the $6.3B hack on Binance, likely the biggest-ever crypto theft

Binance, the world's largest cryptocurrency exchange, suffered a $6.3 billion hack attributed to North Korean hacking unit TraderTraitor, likely the largest crypto theft on record. Binance has reserved $6.34 billion in company funds to cover losses and frozen approximately $3 billion in affected assets, promising to cover all user losses. U.S. blockchain intelligence firms TRM and Chainalysis attributed the attack to TraderTraitor with high confidence; President Trump said U.S. officials are investigating.

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