Binance Reports a $6.3 Billion Hack. U.S. Accounts Were Not

BBC reporting on October 30 said Binance reported that $6.3 billion of digital assets, about £4.7 billion, were affected by a suspected record crypto hack. The exchange said roughly half had been frozen, that much of the rest was still with the attackers, and that it will cover all losses. Withdrawals on Binance.com were turned off until the system is judged secure. Binance.US said the U.S. platform was not affected.

Co-CEO Richard Teng said investigators first found a compromised engineer’s laptop and unauthorized withdrawals, not one stolen master key, and that no private-key leak had been found so far. Analytics firms linked the theft to a North Korea-associated group. Binance did not confirm that link. Tether and Circle said they froze about $2.4 billion combined. Bitcoin fell more than 4% after early alerts, the BBC reported, and CNBC said Coinbase and Robinhood shares fell about 12% and 8%.

A market drop is not a forecast for every holder. The direct consumer issue is access and custody at Binance.com, not a confirmed loss at the separate U.S. exchange.

Does this hack mean a U.S. crypto balance was stolen? Not on these reports. Binance.US said it was unaffected. Binance.com paused withdrawals and said it will cover losses from the reported $6.3 billion exposure.