Binance reported a massive security breach affecting crypto worth an estimated $6.3 billion–what could be a biggest heist in history of crypto. Meanwhile, the crypto exchange platform said that it had located about $3 billion of the affected assets. However, the world's biggest crypto exchange platform did not give any update on the remaining $3.3 billion, as it is working with partners to locate the entire amount.
Reuters reported that initial investigations suggest the breach may have started with a hacked laptop belonging to one of the company’s engineers. Binance said the development allowed the attackers to access one of its systems and make unauthorised withdrawals.
Meanwhile, Binance co-founder Yi He said the company would recover “all losses incurred as a result of the hacking.”
A Compromised Laptop Led To Breach
In an statement Binance also said that the breach may have occur security incident may involve a compromised DevOps engineer’s laptop, noting an estimated total impact sits at around $6.3 billion.
The exchange emphasised that the compromised laptop allowed an attacker to submit withdrawal transactions, gaining access to a service container.
It Could Be Biggest Crypto Heist In History
According to analysts, Binance’s security breach could be the world's biggest crypto heist.
"It's the biggest hack in history," said Aravind Srinivasan, head of large crypto market maker GSR's systematic OTC business, told Reuters.
The development may have a significant impact on the crypto ecosystem beyond the potential loss of assets. It may further impact people’s interest in digital assets, which were already under pressure due to higher US interest rates and softer demand from exchange-traded fund buyers.
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Markets Reacted Immediately
The crypto market reacted to the development immediately, with all major cryptocurrencies slipping into the red.
Asset / Entity | Impact / Performance |
|---|---|
Bitcoin | Dropped over 3% to $76,368 (six-week low) |
Ether | Fell over 3% to $2,178 (two-month low) |
BNB | Down 5% over the past 24 hours to $709.70 |
Coinbase Global | Shares slid 4.8% |
Strategy (Bitcoin buyer) | Shares fell nearly 6% in extended US trading |
Binance has 335 million registered users globally and had about $162.8 billion in assets under custody as of the exchange's 2025 annual report, Reuters reported.