Binance Reports $6.3 Billion Asset Loss in Major Security Breach
· Technology · BBC News, NDTV
Cryptocurrency exchange Binance has confirmed a security incident involving the compromise of approximately $6.3 billion in assets. The company stated that an attacker gained access via a compromised engineer's laptop, enabling unauthorized withdrawals from the platform. Binance has successfully frozen about half of the affected assets with the assistance of other cryptocurrency platforms and has pledged to cover all user losses. While the exchange has disabled withdrawals to secure its environment, the incident has been labeled the largest hack in history, surpassing the 2025 Bybit exchange breach. Finance and AI investigation firm TRM Labs has attributed the attack to the North Korean hacking unit TraderTraitor, though Binance has not confirmed these specific claims.
Why it matters
The breach represents a significant threat to global crypto market stability, directly impacting user funds and prompting a sharp decline in major cryptocurrency prices including Bitcoin, Ethereum, and Solana.
Read the original report — BBC News
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