Hackers Steal $6.3 Billion in Crypto in Just 20 Minutes

Hackers have stolen over US$6 billion from Binance, the world’s largest cryptocurrency exchange. Analysts are calling this the biggest cryptocurrency heist on record.

The company suspended withdrawals on Thursday and lasted about 20 minutes. It says about $3 billion has been frozen. Reuters reported that Tether and Circle froze more than $2.3 billion of that. 

Approximately US$6.36 billion was transferred from Binance wallets across ten different blockchains, according to blockchain analysis firm TRM Labs.

TRM Labs and Chainalysis have both linked the operation to TraderTraitor, a North Korean hacking unit associated with the Lazarus Group. North Korea routinely denies hacking. Experts say stolen crypto helps fund its weapons programmes. 

Binance says its investigation has not yet identified those responsible. The FBI and the US Secret Service are also investigating.

The theft surpasses the previous record of US$1.5 billion taken from cryptocurrency exchange Bybit in February 2025. The incident has also rattled the crypto market, with Bitcoin and Ether both falling to multi-week lows following news of the attack.

Binance has assured customers that their funds are safe and pledged to cover all losses. The company says it is coordinating with authorities and expects withdrawals to resume within 45 hours.