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Binance estimates the impact of its record crypto hack at $6.3 billion, with $3 billion in assets frozen. The exchange says it has reserved more than $6.34 billion to cover losses, is working with the FBI and aims to restore withdrawals after further security checks.
Binance says a $6.3 billion exploit was broader than initially understood, with hackers bypassing security checks and erasing evidence. The exchange is targeting Sunday to restart withdrawals and plans to publish proof of reserves on Monday, according to CoinDesk.
Binance says it has reserved more than $6.34 billion to cover a record cryptocurrency theft, while CZ pushed back after Elon Musk appeared to mock the exchange. The dispute focused on Binance’s SpaceX shares, valued by CZ at more than $1 billion.
Analysts at Cantor Fitzgerald, TD Cowen and Compass Point say a reported $6.3 billion Binance hack is unlikely to derail the cryptocurrency market’s recovery. They are urging investors to consider crypto stocks despite the security incident, according to CoinDesk.
Blockchain analytics firms have linked Binance’s reported $6.3 billion theft to North Korea-associated TraderTraitor. The incident may be the largest crypto hack on record, prompting asset freezes, a market sell-off and Binance’s pledge to cover losses from company reserves.
The FBI and US Secret Service are helping investigate and trace cryptocurrency stolen in Binance’s $6.3 billion hack. Binance says it has reserved more than $6.34 billion to cover losses, while withdrawals remain suspended pending security checks and a planned staged reopening.
Binance says it has set aside more than $6.34 billion to cover losses from the largest reported crypto hack, including $5 billion in matching tokens. The exchange will include the holdings in its next reserves report, but analysts say independent verification is still outstanding.
TRM Labs and Chainalysis have attributed the approximately $6.4 billion Binance hack to TraderTraitor, a North Korean group previously blamed for the $1.5 billion Bybit theft. Binance says it has reserved more than $6.34 billion to cover losses while investigators trace and freeze funds.
Binance said it reserved about $6.3 billion of its own funds to cover losses from a record cryptocurrency hack, while roughly $3 billion in stolen assets had been frozen, according to CoinDesk.
Binance says it has reserved more than $6.34 billion to cover losses from a hack estimated to have affected about $6.3 billion in crypto. Around $3 billion has been frozen, while withdrawals remain paused during a security review and investigators trace the stolen funds.
According to CoinDesk, an Ethereum upgrade introduced in 2025 helped an attacker use 50 signatures from a Binance wallet, contributing to part of the exchange’s reported $6 billion loss. The feature was designed to give ordinary wallets greater functionality.
Bitcoin recovered above $77,000 after falling to $76,320 as markets absorbed a reported $6.3 billion Binance hack. Crypto liquidations reached $1.56 billion, while RSI and Bollinger Band readings suggested selling pressure could be easing despite broader technology-stock weakness.
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Binance says it has found additional breach points in an approximately $6 billion hack, while TRM Labs and blockchain investigators link the stolen funds to North Korea-linked TraderTraitor and earlier Bitget and Phemex exploits.
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A reported $6.3 billion Binance hack sent bitcoin and ether lower and pushed crypto futures liquidations to $1.57 billion. Bitcoin traded near $77,350, highlighting how leveraged positions amplified the market’s reaction.
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Strategy CFO Andrew Kang has resigned as the company reports record quarterly operating income of $21 billion and bitcoin holdings of 848,517 BTC. CoinDesk reported the leadership change on Oct. 30, while Moneyiar data showed bitcoin at $80,430.51 on Oct. 25.
