$6.3B Binance Heist Could Be Biggest Crypto Heist Ever

Binance may have just set a record no one wants. Hackers are believed to have siphoned off $6.3 billion from the world's largest cryptocurrency exchange on Thursday, in what would be by far the biggest crypto theft to date, the Wall Street Journal reports. "It does look like a hack on Binance," founder Changpeng Zhao posted on X, while insisting "user funds are safe." Binance says it has temporarily halted deposits and withdrawals as it investigates, and says it will cover all losses, CNBC reports.

It was initially reported that Stablecoin issuers Tether and Circle had frozen about $1.7 billion linked to the breach, but the total later announced would eclipse the $1.5 billion Bybit hack blamed on North Korea-linked actors in 2025, the largest crypto heist on record. That amount, however, has not yet been confirmed, the AP reports. About $3 billion is now reported to have been frozen. Binance's US platform says it was not impacted, and the company points to a $1.2 billion insurance fund to help absorb losses.