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Binance freezes $3B after $6.3B DevOps hack

By Drooid · Oct 30, 2026 · How we work

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Summary

Binance said a compromised DevOps laptop enabled a hack that stole $6.3 billion.
About $3 billion of the stolen assets have been frozen on-chain.
TRM Labs attributed the breach with high confidence to North Korea’s TraderTraitor hacking unit.
Binance halted all deposits and withdrawals, promising to resume withdrawals within 48 hours.
Binance pledged to cover all losses using its SAFU fund and company funds.

Summary

Binance coordinated with other crypto firms to freeze roughly $3 billion of stolen assets.
Binance’s emergency fund holds $1 billion, far below the estimated $6.3 billion loss.
Co-CEO Richard Teng said the attack exploited multiple permissions, not a single “one-click” breach.
Attackers moved stolen funds across ten separate blockchain networks, widening the breach’s reach.

History

In February 2016, hackers tied to North Korea’s Lazarus Group stole SWIFT credentials and sent 35 fraudulent orders from Bangladesh Bank’s New York Federal Reserve account, moving $101 million. The U.S. Treasury froze over $1 billion and SWIFT introduced mandatory authentication. Regulators now reference that breach as they press crypto platforms like Binance to add multi-factor safeguards.

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In February 2016, hackers tied to North Korea’s Lazarus Group stole SWIFT credentials and sent 35 fraudulent orders from Bangladesh Bank’s New York Federal Reserve account, moving $101 million. The U.S. Treasury froze over $1 billion and SWIFT introduced mandatory authentication. Regulators now reference that breach as they press crypto platforms like Binance to add multi-factor safeguards.

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