Bitcoin: hacker attack on Binance, $6.3 billion stolen

Bitcoin heist of the century. Binancethe first world platform of cryptocurrency exchange by volume, confirmed that it had undergone a cyber attack involving approximately $6.3 billion, equal to 5.63 billion euros. Around $3 billion has been frozen on the blockchain thanks to collaboration with specialized companies, thus limiting theft. The platform has temporarily suspended deposits and withdrawals and assured that it will cover “all losses”.

“We are working around the clock and will publish a detailed report once the investigation is concluded,” Binance wrote on its X Latin America account, confirming that it was a “complex attack with multiple flaws.” The group initially issued conflicting messages, first claiming that all customer funds were “completely safe” and later announcing that losses were being covered.

February 2025 bitcoin theft record pulverized

The amount involved would be more than four times that stolen in February 2025 to the Bybit platform: 1.5 billion dollars, in what was considered the largest cyber theft of its kind so far. That attack was attributed to TraderTraitor, a group of hacker linked to North Korea. According to the analysis firm Trm Labs, it is very likely that the same group is responsible for the attack on Binance. “Several characteristics of this operation match those of previous North Korea-linked thefts,” the company said, citing information gathered on and off the blockchain.

The person responsible for Tether, issuer of the USDT cryptocurrency, announced the freezing of approximately $1.6 billion of these assets in relation to the possible attack. Circle, which emits USDC has blocked approximately 800 million dollars. Its CEO Jeremy Allaire specified that the intervention had been agreed with the authorities. Usdt and Usdc are “stablecoins”, cryptocurrencies whose value is pegged to the dollar.

Former Binance number one Changpeng Zhao, still the majority shareholder but without operational roles, estimated that actual losses could be “a little more” than a billion dollars. Binance explained that the amount of frozen funds could increase with the continuation of checks and collaboration with authorities and operators in the sector.

The news caused a sharp decline in major cryptocurrencies, followed by a recovery. After losing almost 5% at the end of the American session, bitcoin limited its decline to 0.83% around 6 am Italian time, while ether lost 0.81%. BNB, the cryptocurrency issued by Binance, rebounded 2.67% after falling nearly 10%.