Binance is committed to compensating for all losses after the largest attack in cryptocurrency history
Executive Briefing
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“Binance is committed to compensating for all losses after the largest attack in cryptocurrency histo”
Key Takeaways
- 1.Binance is committed to compensating for all losses after the largest attack in cryptocurrency history The world's largest cryptocurrency exchange Binance has just announced that it has begun the process of recovering assets affected by a cyber attack worth an estimated $6.3 billion — the largest cryptocurrency theft ever, occurring around October 29, 2026.
- 2.According to the official announcement, Binance has spent more than 6.34 billion USD in company funds to compensate for losses, of which 5 billion USD is already available in the correct type of affected token; The remainder is being additionally purchased via the market and OTC.
- 3.At the same time, approximately $3 billion in assets were frozen thanks to the support of industry partners (including stablecoin issuers).
Binance is committed to compensating for all losses after the largest attack in cryptocurrency history
The world's largest cryptocurrency exchange Binance has just announced that it has begun the process of recovering assets affected by a cyber attack worth an estimated $6.3 billion — the largest cryptocurrency theft ever, occurring around October 29, 2026.
According to the official announcement, Binance has spent more than 6.34 billion USD in company funds to compensate for losses, of which 5 billion USD is already available in the correct type of affected token; The remainder is being additionally purchased via the market and OTC. At the same time, approximately $3 billion in assets were frozen thanks to the support of industry partners (including stablecoin issuers). Binance affirmed that it will continue to use company funds to make up for the shortfall and announced Proof of Reserves to verify all user funds.
The initial cause was believed to be related to a compromised DevOps engineer's laptop, allowing attackers to send unauthorized withdrawal orders; There is no evidence of private key leak yet. Withdrawals temporarily stopped (deposits still work normally), expected to reopen in about 45 hours. Founder CZ also confirmed that the token revocation process has begun and emphasized: "Your funds are SAFU!"
Binance and its partners are coordinating with law enforcement and blockchain intelligence companies to trace and recover additional assets.
