Binance, the world’s largest cryptocurrency exchange, resumed operations on Sunday after experiencing what is believed to be the largest hack in history. The breach resulted in the theft of approximately $6.3 billion in digital assets. During the first day of operations following the incident, customers initiated a net withdrawal of $3.6 billion, representing just over 2% of the platform’s $171 billion in assets under management.
The cyber-attack has been attributed to TraderTraitor, a North Korean cybercrime group also known as the Lazarus Group, according to major organizations including the US Federal Bureau of Investigation. This group was previously responsible for stealing $1.5 billion from cryptocurrency exchange Bybit in 2025. Initial investigations suggest the incident may have originated from a compromised laptop belonging to an engineer at the firm, which granted hackers access to execute unauthorized transactions.
Binance stated it has recovered approximately 95% of the stolen assets and has committed to covering all losses incurred by users. The company established reserves exceeding $6.3 billion to address the fallout from the attack, drawing from corporate treasury funds, futures insurance, and emergency reserves. Withdrawals of major cryptocurrencies including Bitcoin and Ethereum have resumed, with the exchange phasing in additional services as security checks are completed.
Meanwhile, experts tracking the stolen funds report ongoing money laundering activities. According to Chainalysis, which is assisting in recovery efforts, attackers are actively distributing the funds across thousands of addresses and deposits to obscure their origin. The FBI has published a list of cryptocurrency wallet addresses linked to the group and requested industry cooperation to block related transactions. The Binance.com global platform was affected by the breach, while the exchange’s US-facing operations reported no impact from the incident.
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