Binance Hack: Exchange Estimates Damage at $6.3 Billion
Crypto exchange Binance reported that the total damage from the "security incident" is around 6.3 billion dollars. According to a preliminary theory, the cause of the hack was the compromise of a laptop belonging to one of the DevOps engineers. This allowed the hackers to gain access to service systems and withdraw funds.
Binance Hack: Exchange Estimates Damages at $6.3 Billion
Binance emphasized that no signs of a wallet private key leak have been detected.
All operations on the exchange were suspended. The platform's management, which previously promised clients to compensate for all damages, reported that about $3 billion of the stolen assets managed to be frozen. To cover the remaining losses, Binance will use its reserve Secure Asset Fund for Users (SAFU) and its own funds.
Earlier, analysts estimated the amount of stolen funds at more than $5.5 billion, and the media already called the incident the largest crypto exchange attack in history. The previous anti-record belonged to North Korean hackers, who in 2025 siphoned $1.5 billion from the Bybit platform.
Following the initial reports of the hack, cryptocurrencies fell significantly in price.
Bitcoin dropped below $77 thousand, losing 4.4 percent, while Ethereum fell to $2.2 thousand (−5.5 percent). The total market capitalization of the cryptocurrency market decreased by 4.5 percent and currently stands at $2.6 trillion.