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Binance confirmed a security breach affecting approximately $6.3 billion in cryptocurrency on October 30, an incident that exceeds the scale of the $1.5 billion theft from Bybit in February 2025. The exchange stated that approximately $3 billion in affected assets had been frozen on-chain through coordination with blockchain partners.
Transfers Suspended and Losses Pledged
At approximately 00:30 GMT on October 30, Binance announced the temporary suspension of deposits and withdrawals. The exchange said its teams were conducting security checks, freezing funds, and coordinating with law enforcement agencies. While the $6.3 billion figure represents the estimated assets affected, the final loss remains uncertain as investigators trace funds and pursue additional freezes.
In its security incident update, Binance pledged to cover losses using its Secure Asset Fund for Users, known as SAFU, and company funds. The exchange noted that the amount of frozen assets could rise as law enforcement agencies, token issuers, blockchain intelligence firms, and other partners continued tracing the funds. The pledge addresses the financial impact on customers, while recovering the affected assets and restoring normal operations remain separate parts of the response.
Compromised Laptop Identified as Entry Point
Binance’s preliminary investigation pointed to a compromised laptop belonging to a DevOps engineer. According to the exchange, that access allowed an unauthorized party to enter a service container and submit withdrawal transactions through internal infrastructure. Binance stated that investigators found no evidence that wallet private keys were leaked.
The incident marks a significant shift in the landscape of cryptocurrency thefts, as the Bybit attack previously set the benchmark for the largest cryptocurrency theft attributed to North Korean-linked hackers. The current breach involves a different mechanism, relying on internal infrastructure access rather than direct wallet compromises.
Frequently Asked Questions
How much of the affected Binance assets have been frozen?
Approximately $3 billion in affected assets had been frozen on-chain according to Binance’s announcement. The exchange stated this amount could rise as partners continue tracing funds.
What was the cause of the Binance security breach?
Binance’s preliminary investigation pointed to a compromised laptop belonging to a DevOps engineer. This access allowed an unauthorized party to enter a service container and submit withdrawal transactions through internal infrastructure.
