Binance hit by largest-ever crypto hack after staff laptop compromise

Binance says attackers attempted to steal up to US$6.3 billion in digital funds in what appears to be the largest hack in the cryptocurrency sector to date. The exchange said the incident began after hackers may have gained access to a staff member's laptop. It also said users' funds are safe and that it will cover all hacking losses.

The company said the true scale of the theft is still unclear, but about US$3 billion in funds were reported frozen. Crypto watchers said the funds were moved this morning from a number of hot wallets, which are internet-connected wallets used for fast everyday trading. The affected assets were said to include Bitcoin, Ether and stablecoins such as USDT and USDC.

Binance confirmed in a statement that it had been the victim of an attack and said it had found no evidence of any wallet private key leak. A company spokesperson said users should rest assured that their funds are completely safe. The exchange, which is the world's largest crypto platform, also said it would cover all losses linked to the hack.

The incident matters because Binance sits at the centre of global cryptocurrency trading, and any breach at that scale can affect confidence across the wider market. The reported freezing of a large share of the targeted funds suggests some of the stolen assets may still be recoverable. It also highlights the continuing risks around hot wallets, which are more exposed than offline storage because they are connected to the internet.

A blockchain forensics expert described the incident as the largest crypto hack so far, while another specialist said not all funds targeted by attackers will necessarily be successfully stolen. That is because stablecoin providers can freeze some assets and hackers still need to move funds through exchanges, which can create additional obstacles. The row also comes as the sector continues to face repeated security challenges tied to digital asset custody and exchange infrastructure.

What remains unclear is the final amount that was actually taken, how much can be recovered, and whether the compromise was limited to one device or involved wider access. Binance has not said publicly how the laptop was compromised or whether any customers were directly affected. The next key question is how much of the frozen US$3 billion can be secured and whether investigators can trace the movement of the remaining funds.

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