Binance suffers $6.34 billion security breach, assures users no losses while enhancing protections and launching investigation into incident
Last week, Binance experienced a major security breach impacting digital assets. Now the company is compensating users for any financial losses and has already replenished 98% of affected assets.
Around USD 6.34 billion was impacted, with USD 2.85 billion frozen or intercepted.
Immediate actions were taken to bolster security, closing entry points and enhancing risk controls.
Response actions
The attack exploited unauthorised access to wallet services and affected several networks, as earlier reported by Binance.
Binance detected the breach quickly, suspending withdrawals and freezing tokens with partners to limit further losses. The incident revealed complexities due to existing on-chain authorizations needing multiple transactions to revoke.
Final unauthorized transfers were contained, with on-chain operations cleared.
The attack was a sophisticated, multi-stage operation involving various advanced techniques.
Investigations showed persistent attempts linked to North Korea throughout 2026. Actors used social engineering, phishing, and software exploits to gain access.
Post-incident, Binance rebuilt affected systems and strengthened security protocols.
