The world never saw anything like this before because the world really never had crypto before so we’re about to see what happens…
The world’s largest cryptocurrency exchange, Binance, has been hit by what investigators are calling the largest cryptocurrency theft in history. Hackers reportedly stole approximately $6.3 billion in digital assets on Thursday, October 29, with much of the money transferred in just 20 minutes.
According to TRM Labs, a blockchain intelligence firm that tracks the industry, an elite North Korean hacking unit called TraderTraitor was responsible for the theft – and it was completed in just 20 minutes…
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Binance’s preliminary investigation indicates that the attackers gained access through an engineer’s laptop, allowing them to enter the company’s systems and authorize fraudulent withdrawals. Cryptocurrency investigators, including TRM Labs and Chainalysis, have linked the attack to North Korea based on similarities to previous cyberattacks. North Korean hackers were also blamed for the $1.5 billion theft from cryptocurrency exchange Bybit in February 2025.
Binance temporarily suspended deposits and withdrawals while security investigations continued.
Approximately $3 billion of the stolen cryptocurrency was frozen through efforts involving several digital asset companies. Binance has assured customers that their funds remain safe and that the company will cover losses using its own resources and emergency reserves. Law enforcement agencies and cryptocurrency investigators are continuing efforts to trace the remaining stolen assets and identify those responsible.
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