Binance Estimates $6.3 Billion Impact from Major Cyberattack

Oct 30, 2026 at 10:57 AM

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Lanka Leader

World’s largest cryptocurrency exchange says hackers may have exploited an employee’s compromised laptop; nearly $3 billion in assets reportedly frozen

The world’s largest cryptocurrency exchange, Binance, has estimated the impact of a major cyberattack at approximately $6.3 billion, raising fresh concerns over cybersecurity in the rapidly expanding global cryptocurrency industry.

In an update issued on Friday, Binance said its preliminary investigation indicated that attackers may have gained unauthorized access to a service container through a compromised laptop belonging to a DevOps engineer. The access allegedly enabled the submission of unauthorized withdrawal transactions.

The company stressed that it had found no evidence that private keys belonging to its cryptocurrency wallets had been compromised. It also pledged to cover all losses through its Secure Asset Fund for Users (SAFU) and corporate funds.

“The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with approximately $3 billion frozen on-chain so far,” Binance said in a statement.

Binance assured customers that their funds remained safe and said it would release a detailed technical report after completing its investigation.

As an immediate security measure, the exchange temporarily suspended deposits and withdrawals while conducting security checks. It also revoked the authorization associated with the affected address and engaged law enforcement agencies and blockchain intelligence firms to trace and recover the funds and identify those responsible.

The incident follows reports of suspicious transactions on Thursday involving billions of dollars in digital assets transferred from wallets linked to Binance.

Blockchain researchers initially estimated that approximately $2.77 billion had flowed out across five blockchain networks. Binance subsequently confirmed that assets worth approximately $2.54 billion had been frozen.

Major stablecoin issuers, including Tether, Circle and Ripple, were among the companies that moved to freeze assets associated with the suspected attack.

Growing wave of cryptocurrency thefts

The suspected attack adds to a series of major cryptocurrency thefts reported this year, highlighting persistent vulnerabilities in the digital asset industry.

In September, hackers reportedly stole approximately $388 million from the Bitget exchange. Earlier, attacks targeting the Drift Protocol and Kelp DAO platforms in April resulted in estimated losses of $285 million and $292 million, respectively.

In February 2025, hackers suspected of having links to North Korea stole approximately $1.5 billion from the Bybit cryptocurrency exchange. The incident was widely described at the time as the largest cryptocurrency heist ever recorded.

Binance's regulatory controversies

The latest security incident also places renewed attention on Binance's previous regulatory controversies.

Binance co-founder and former Chief Executive Officer Changpeng Zhao pleaded guilty in 2023 to violating US anti-money-laundering laws. As part of a settlement, he stepped down as head of the exchange, while Binance agreed to pay $4.3 billion in penalties.

Zhao subsequently served a four-month prison sentence.

In October 2025, US President Donald Trump granted Zhao a presidential pardon. The White House defended the decision, arguing that Zhao had been unfairly prosecuted under the administration of former President Joe Biden as part of a broader crackdown on the cryptocurrency industry.

The latest incident underscores the growing challenges facing cryptocurrency exchanges as cybercriminals increasingly target digital asset platforms and the infrastructure supporting global cryptocurrency transactions.