Crypto Hackers Steal $6.3 Billion From Binance in ‘Largest Bank Heist in Human History’

Binance, the world’s largest cryptocurrency exchange, suffered what has been described as the largest cryptocurrency heist in history when attackers stole approximately $6.3 billion in digital assets on October 29. Security research firm TRM Labs identified the attack as occurring over a 20-minute period across ten different blockchains, targeting the exchange infrastructure itself rather than individual user wallets.

According to investigation details, the breach likely originated from a compromised engineer’s laptop, suggesting the attack began with credential theft or unauthorized system access through a staff member’s device. Binance co-CEO Richard Teng indicated the attack was sophisticated and coordinated, with evidence suggesting multiple hackers were involved rather than a single attacker exploiting one person’s permissions.

TRM Labs attributes the theft to a group known as “TraderTraitor,” believed to be linked to North Korea’s elite hacking unit. The stolen assets included major cryptocurrencies including Bitcoin, Ethereum, Solana, and XRP. In response, Binance worked with blockchain partners to trace and freeze stolen assets—approximately $3 billion of the $6.3 billion has been located and frozen across exchanges, though recovery remains uncertain. The remaining $3.3 billion in stolen cryptocurrency is still unaccounted for. Binance committed to covering customer losses and announced customer withdrawals should resume by Sunday, while deposits continue operating normally.

Crypto Hackers Steal $6.3 Billion From Binance in ‘Largest Bank Heist in Human History’

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