Binance Hits $6.3 Billion Loss in Hacked Crypto Breach

Binance estimated its financial loss from a major security breach at $6.3 billion on Thursday. The cryptocurrency exchange confirmed that unauthorized withdrawals drained its accounts after an attacker infiltrated its systems.

The initial investigation points to a compromised laptop belonging to a DevOps engineer. That single device provided the entry point for the unauthorized withdrawal transactions. A subsequent review found additional breach locations, though Binance has not yet specified where they occurred.

To stop the bleeding, the company froze approximately $3 billion in affected assets on-chain with the help of blockchain partners. It also temporarily suspended all deposits and withdrawals while its teams ran security checks. These measures halted the flow of money in and out of the platform during the active investigation.

Binance stated that user funds remain safe. The company will cover all losses using its SAFU fund and its own corporate funds. It promised to publish an updated Proof of Reserves once the remediation process is complete. A detailed technical post-mortem will follow once the facts are fully verified.

The exchange is working with law enforcement partners to identify the responsible parties. "This was a complex attack," the company said in a statement. "We are doing all we can in coordination with law enforcement to resolve it." Teams are currently working around the clock to fix the issue safely and thoroughly.