Crypto Exchange Binance Freezes Assets After US$6.3 Billion Security Breach
- Binance reported a security incident involving an estimated $6.3 billion in cryptocurrency and froze affected assets.
- Binance said a compromised DevOps engineer’s laptop may have enabled unauthorized withdrawals through a service container.
- Binance said about $3 billion had been frozen on-chain and promised to cover verified losses using SAFU and company funds.
- Binance temporarily suspended deposits and withdrawals, revoked affected address authorization, and contacted law enforcement and blockchain partners.
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According to experts, it is the largest hacker attack on a digital currency exchange so far. The leading market place Binance spent $6.3 billion in and out of money after the theft.
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Crypto exchange Binance freezes assets after $6.3 billion security breach
Binance reported a security breach with an estimated $6.3 billion impact, potentially the largest crypto heist on record. About $3 billion has been located, while the exchange says it will cover losses.
Crypto exchange Binance freezes assets after US$6.3 billion security breach
Beyond the potential loss of assets, the security breach was likely to have wider ramifications for crypto, which had already been under pressure lately due to higher US interest rates and softer demand from exchange-traded fund buyers, analysts said.
The last week of October 2026 will be recorded in the memory of the digital asset ecosystem. In just 72 hours, the company detected a security breach of $6.3 billion. On Tuesday, October 27, the market's attention was not put in an imminent breach, but in the operating routine of the ... Continue reading "Binance freezes billions, suspends withdrawals and faces the largest crypto hack in history"
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