Binance's $6.3 billion hack traced across global blockchain
Binance, the world's largest cryptocurrency exchange, suffered a $6.3 billion hack on Thursday, the largest in crypto history, forcing it to halt deposits and withdrawals. North Korean hackers drained the funds, and Binance has pledged to cover all customer losses. The attack was detected in real-time via blockchain analysis, prompting a crisis response led by co-CEO He Yi. The hackers, identified as the TraderTraitor unit, used novel laundering methods, but Tether and Circle froze over $2 billion in stolen assets. Binance has set aside $6.34 billion to cover losses. The incident has triggered industry-wide efforts to recover funds and law enforcement inquiries. Founder Changpeng Zhao publicly reassured users, while the Trump family's World Liberty firm froze $27 million in stolen USD1 coins. The hack follows a $1.5 billion theft from Bybit in February 2025.