One hacked laptop may be behind $6.3bn Binance security breach
Cryptocurrency exchange Binance has reported a major security breach affecting approximately $6.3bn in digital assets, prompting the company to suspend deposits and withdrawals while investigators trace unauthorised transactions.
According to Binance’s official statement, the attacker used the compromised device to access an internal service and submit unauthorised withdrawal transactions. The company said it had found no evidence that attackers had leaked the private keys used to access cryptocurrency wallets.
The exchange estimates the incident’s total impact at $6.3bn, although the final amount stolen has not been confirmed.
Binance and its blockchain partners have frozen approximately $3bn in affected assets. The company is also working with law enforcement and blockchain intelligence firms to trace the remaining funds.
What happens to Binance users’ money?
Binance has promised to reimburse losses using its Secure Asset Fund for Users (SAFU), an emergency reserve established to protect customers, alongside the company’s own funds.
The exchange maintains that customer assets are safe, although an independent assessment of the full financial impact has not yet been completed.
Stablecoin issuers Tether and Circle have also helped freeze funds linked to the breach. Tether blocked approximately $1.57bn, while Circle froze more than $800m million, according to Reuters.
Deposits and withdrawals remain temporarily suspended while Binance conducts security checks. The company has not announced a specific date for restoring normal operations.
Binance said it would publish a detailed technical report after completing its investigation, followed by updated proof of reserves to provide information about the assets it holds.
Bitcoin falls to six-week low after security breach
The incident triggered a sell-off across the cryptocurrency market as investors reacted to concerns about the security of centralised exchanges.
Bitcoin fell to $77,646, its lowest level in six weeks, while Ethereum dropped to a two-month low of $2,238.76. BNB, the cryptocurrency associated with Binance, lost more than 8% over 24 hours, trading at approximately $694.
If the estimated impact translates into confirmed theft, the incident could become the largest cryptocurrency hack on record, exceeding the $1.5bn stolen from the Bybit exchange in February 2025.
