What to know about the $6.3B hack on Binance, likely the biggest-ever crypto theft

Binance, the world s biggest cryptocurrency exchange, said Friday that hackers stole more than $6 billion in what appears to be the largest cryptocurrency heist on record. Blockchain firms have pointed to the attack coming from a North Korean hacking unit. The company said it has reserved more than $6.34 billion of company funds to cover the stolen assets and was beginning to recover assets for users. Binance worked with blockchain partners to freeze roughly $3 billion in affected assets. The cryptocurrency exchange has promised to cover all losses, and it has been sharing regular updates on its social media channels as it uncovers more information about the hack. “We are working nonstop to resolve this,” Binance s co-CEO Richard Teng said Friday in a video posted to X. Here s what we know about the hack, possible North Korean involvement and Binance s investigation. North Korean hackers are suspected in the attack Binance said on X that an initial investigation sugge