Binance was hacked on Friday, with losses estimated at $6.3 billion—the largest sum in global hacking history. So far, around $3 billion in cryptocurrency assets have been frozen.
The incident raised questions about recovering the stolen funds and the broader effects on crypto markets. The exchange pledged to cover all losses, while blockchain investigators linked the attack to North Korea and analysts assessed the potential financial risks.
Binance said user funds were safe and that it was working with partners to freeze some of the affected assets, with about $3 billion located so far. It expects to resume withdrawal services in the next 48 hours. It did not mention the status of the remaining $3.3 billion.
In an official statement the company said: “Binance’s initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.”
“Your money is safe and we’re covering every loss,” co-CEO Richard Teng said on X. “Our investigation has not attributed responsibility to any individual.”
After the hack, Binance halted withdrawals, and stablecoin issuers such as Tether, Circle, and the Trump-backed World Liberty Financial quickly froze half the stolen assets.
According to analysts, the cyberattack does not currently appear to pose a significant solvency risk for Binance.
By CEO NA Editorial Staff
