Biggest-ever crypto hack impacts $6.3 billion as Binance works to contain fallout

Circle signage during the company's initial public offering in front of the New York Stock Exchange, June 5, 2025.Michael Nagle | Bloomberg | Getty ImagesBinance said Friday that a security incident had an estimated impact of $6.3 billion, with around $3 billion in cryptocurrency assets frozen so far, and pledged to cover all losses.The world's largest crypto exchange said an initial investigation suggests "the security incident may involve a compromised DevOps engineer's laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions." The exchange said it would cover all losses using its Secure Asset Fund for Users and company funds, adding that customer funds remained safe.Binance also temporarily suspended deposits and withdrawals, revoked the affected address authorization and enlisted law enforcement and blockchain intelligence firms to trace and recover funds.The company said it would publish a technical report, and an updated Proof of Reserves after remediation efforts."We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the fac...