Binance, the world’s largest cryptocurrency exchange, has reportedly suffered a major cyberattack involving an estimated $6.3 billion worth of cryptocurrency, equivalent to around ₹60,000 crore. The company has suspended deposits and withdrawals while security checks are underway. Binance is reportedly aiming to lift withdrawal restrictions within 45 hours and has assured customers that eligible losses will be compensated if the investigation establishes customer losses.
According to blockchain research firm TRM Labs, North Korea is suspected of being behind the attack. The incident has also triggered a decline of more than 5% in Bitcoin and some other cryptocurrencies. The report describes the incident as potentially the largest cryptocurrency hack in history, surpassing the 2025 theft of $1.5 billion from Dubai-based exchange Bybit, which was attributed to North Korean hackers.
Binance’s security teams are reportedly working with international law enforcement agencies and cybersecurity experts to investigate the breach and prevent further losses. The incident has raised fresh concerns about the security of cryptocurrency platforms. However, the reported scale of the theft, the suspected perpetrators and the status of the suspension would need independent confirmation.