Binance freezes assets after $6.3 billion heist, crypto industry's biggest

Business Recorder reported that Binance suffered a crypto theft estimated at $6.3 billion, which analysts described as potentially the largest such attack. The exchange said it had helped freeze around $3 billion with partners, while co-founder Yi He said Binance would cover the losses. The hackers reportedly moved funds across 10 blockchains, and investigators cited by the report believe the attack was linked to North Korea.

Binance said customer deposits were not affected and that it expected withdrawals to resume within 48 hours. The company did not clarify the whereabouts of the remaining $3.3 billion, while Tether, Circle and Ripple also froze assets connected to the incident. Bitcoin and ether each fell more than 3% in Asian trading, while BNB lost 5% over 24 hours, reflecting the immediate market response.