Binance Loses $6.3bn in Biggest Crypto Hack on Record

Two analytics firms link the breach to North Korea's Lazarus Group—the same unit blamed for a $1.5bn Bybit hack in 2025.

By The energy-climate Desk

Binance, the world's largest crypto exchange, confirmed on Thursday that $6.[2]

5bn hack on the Bybit exchange in 2025. [2]

About half the affected assets have been frozen; the rest remain with the hackers. Tether and Circle together froze roughly $2.4bn in response. [2]

They target the systems and people with authority to use them." [2]

This is what state-sponsored theft looks like when it matures—patient, layered, and indifferent to the size of the target. The question for every exchange is no longer whether this can happen, but how fast they can respond when it does.

Binance, which has more than 300 million registered users worldwide, said it will cover all losses and publish a detailed post-mortem once its investigation is complete. [2]

This implies that attackers no longer need the vault keys. They target the systems and people with authority to use them.Jayant Dave