Binance, the world’s largest cryptocurrency exchange by trading volume, has pledged to cover all losses from a hack that it said drained around US$6.3 billion from its wallet.
At that scale, it would be the biggest crypto theft on record, surpassing the US$1.5 billion stolen from Dubai-based exchange Bybit in February 2025, a theft the FBI attributed to North Korea.
Binance said in a post on X on Friday that it had suspended all deposits and withdrawals while its team conducts security checks, freezes funds and works with law enforcement.
