CoinDesk
Hackers stole 18,270 BTC, worth about $1.4 billion, from Binance in a Thursday breach. The haul exceeds Tesla’s 11,509 BTC holdings and is more than twice El Salvador’s roughly 7,820 BTC reserve. Withdrawals remained suspended during security checks.
Why it matters
TRM Labs attributed the attack with high confidence to TraderTraitor, a North Korean state-sponsored hacking group. Binance has not identified the attacker. The FBI previously blamed TraderTraitor for the $1.5 billion Bybit theft in February 2025.
The bitcoin moved from a Binance hot wallet in 11 transactions, then spread across 19 addresses. None of the receiving addresses had spent its holdings as of 2:02 a.m. ET Friday. Binance said its initial investigation pointed to a compromised engineer’s laptop, but later identified additional breach points and found no evidence that wallet private keys had leaked.
Market impact
Binance said about $3 billion of the roughly $6.3 billion stolen across cryptocurrencies had been frozen onchain. Stablecoin issuers, including Tether and Circle, can block transfers from specific addresses, while exchanges and custodians may intercept stolen bitcoin if attackers try to deposit or trade it.
The exchange said it had set aside more than $6.34 billion to cover losses, including $5 billion already held in affected cryptocurrencies, and was buying the remaining assets. The suspended withdrawals put the focus on Binance’s security checks and its planned proof-of-reserves update on Monday, Nov. 2.
Frequently asked questions
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How much bitcoin was stolen from Binance?
Hackers stole 18,270 BTC, worth about $1.4 billion. The amount exceeded Tesla’s reported 11,509 BTC holdings and more than doubled El Salvador’s roughly 7,820 BTC reserve.
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Who did investigators link to the Binance attack?
TRM Labs attributed the attack with high confidence to TraderTraitor, a North Korean state-sponsored hacking group. Binance has not identified the attacker.
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How much of the stolen cryptocurrency has been frozen?
Binance said about $3 billion of the roughly $6.3 billion stolen across cryptocurrencies had been frozen onchain.
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Why can stablecoin issuers help freeze stolen funds?
Stablecoin issuers such as Tether and Circle can block transfers from particular addresses. Exchanges and custodians may also intercept stolen bitcoin deposited with them.
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What did Binance say about covering losses and withdrawals?
Binance said it had set aside more than $6.34 billion to cover losses. Withdrawals remained suspended during security checks, and the exchange planned an updated proof-of-reserves publication.
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