Binance, the world’s largest crypto exchange, has linked the theft of about $6.3 billion in cryptocurrency to a DevOps engineer’s compromised laptop.
The crypto exchange said the access let attackers submit unauthorized withdrawal transactions after they accessed a service container, and it hasn’t yet found evidence of a leaked wallet private key.
“To be clear: the attacker did not simply use one engineer’s permissions, and this was not a single ‘one-click’ action. It involved a more complex attack process. Our investigation has not attributed responsibility to any individual,” Binance Co-CEO Richard Teng said.
Binance also said it “uncovered additional points of breach” but was “still gathering the facts, and will share more directly as we have them.”
The company confirmed the breach in a statement shared with BleepingComputer on Thursday and reassured customers that their funds were safe.
“Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete,” it said.
Since the attack, Binance has suspended deposits and withdrawals while it conducts security checks, revoked authorizations for the affected address, and is working with blockchain intelligence partners and law enforcement to trace and recover the stolen funds.
Crypto theft linked to North Korean hackers
Although the company didn’t link the incident to a hacking group or threat actor, blockchain analysis firm TRM attributed the attack to TraderTraitor, a North Korean state-backed hacking unit also tracked as Lazarus Group and APT38.
“On October 29, 2026, an attacker moved approximately USD 6.36 billion out of Binance wallets on ten blockchains, most of it in about 20 minutes starting at 20:05 UTC. That makes this the largest crypto theft on record, about four times the USD 1.5 billion Bybit hack of February 2025,” TRM said.
Blockchain intelligence firm Chainalysis confirmed TRM Labs’ findings, stating with “a high degree of confidence” that TraderTraitor is responsible for the Binance $6.4 billion hack.
While stablecoin issuers Tether, Circle, Ripple, and others have frozen roughly $2.7 billion since the incident, the attackers still have control of about $2.4 billion that can’t be frozen.
“Tether, Circle, Ripple and World Liberty Financial froze about USD 2.67 billion in stablecoins, and Arbitrum’s Security Council froze 8,426 ETH and 74.6 million ARB on its network, for a total of roughly USD 2.7 billion,” TRM added.
“The attacker raced the freezes by selling USDT to market makers and borrowing ETH against USDT on Aave. It now holds more than 420,000 ETH and 18,270 BTC, about USD 2.4 billion in assets beyond any issuer’s reach.”
The TraderTraitor hackers were previously linked to many other major crypto theft incidents, including the theft of $1.5 billion in the February 2025 Bybit hack. At $6.36 billion, the Binance attack is now the largest recorded crypto heist.
Overall prevention scores can hide what happens after initial access. Once attackers are using valid credentials, prevention drops sharply.
The Blue Report 2026 measures defenses technique by technique across 338 million simulations run in customer production environments.
