Binance recovers 95% of $6.3 billion in largest crypto exchange hack

Binance has restored about 95% of the US$6.3 billion stolen in what is potentially the largest crypto exchange hack on record, using emergency funds and corporate resources. The October 29, 2026 attack moved assets across multiple blockchains in about 20 minutes, prompting Binance to suspend deposits and withdrawals. Investigators point to North Korea-linked cybercriminals, with the breach likely targeting withdrawal authorization systems rather than underlying blockchains. The incident highlights that exchange security differs from blockchain security, as centralized custody creates single points of failure. Experts urge rigorous cybersecurity standards, stronger regulation, consumer protections, and international cooperation to trace stolen assets and prevent future attacks.