Binance says $6.3bn stolen in 20‑minute hack, breach linked to signing infrastructure

The world's largest crypto exchange confirmed a 20‑minute breach that drained $6.3 billion, citing compromised signing infrastructure and promising to cover all losses.

By Felo News Desk · Published Fri, 30 Oct 2026 18:00:31 GMT

Binance, the world’s largest cryptocurrency exchange, said hackers stole about $6.3 billion in a breach that lasted roughly 20 minutes, beginning shortly after 20:00 GMT on Thursday, according to the exchange and blockchain analysts.

What happened

Blockchain analysis firms TRM Labs and Chainalysis recorded the movement of approximately $6.36 billion across ten blockchains within a 20‑minute window. The attackers accessed Binance’s signing infrastructure, which authorises transactions, and used it to empty wallets that the exchange uses for processing trades. After the funds were moved, partners including stablecoin issuers froze roughly half of the stolen assets.

What the reports add

Independent reported that Binance initially thought a compromised laptop was involved, but later identified additional breach points without further detail. The outlet also noted that Binance’s Secure Asset Fund, a $1 billion reserve, is intended to protect users, and co‑CEO Richard Teng said losses will be covered by the fund and company resources.

Al Jazeera added that two U.S. blockchain firms attribute the attack to North Korean state‑sponsored hackers, and that the theft dwarfs the previous record $1.5 billion loss at Bybit in February 2025. It also mentioned that Binance suspended deposits and withdrawals on Thursday and assured users that funds are “safe”.

What was said

Binance said in a statement on X that the exchange will cover all losses, and co‑CEO Richard Teng told Independent that the Secure Asset Fund and other company resources will be used to reimburse users. Al Jazeera quoted the exchange’s statement that user funds are “safe”.

How it came about

Earlier on the same day, Felo News reported that Binance froze withdrawals after a hack drained billions from hot wallets, and that about $3 billion of the stolen assets were frozen pending investigation. Subsequent coverage linked the breach to North Korean actors and noted that Binance co‑founder Yi He pledged to cover all losses using reserve funds. The current reports build on that background by detailing the signing‑infrastructure compromise and the rapid 20‑minute execution of the theft.

Key facts

Hackers stole about $6.3 billion from Binance. (independent.co.uk)
The breach lasted roughly 20 minutes, starting after 20:00 GMT on Thursday. (aljazeera.com)
Binance will cover all losses using its Secure Asset Fund and other resources. (independent.co.uk)
The attack exploited Binance’s signing infrastructure that authorises transactions. (independent.co.uk)
Blockchain firms TRM Labs and Chainalysis attribute the attack to North Korean hackers. (aljazeera.com)

Where accounts differ

Amount of assets frozen after the hack: partners froze roughly half of the stolen assets (independent.co.uk); Binance froze about $3 billion of the stolen assets (aljazeera.com)