Binance announces a $6.3 billion cyberattack / Platform freezes funds and temporarily suspends trading

Binance, the largest cryptocurrency trading platform, announced on Thursday that it had been the target of a cyberattack whose damages are estimated at approximately $6.3 billion. The company temporarily suspended all deposits and withdrawals and is trying to limit the losses together with industry partners and authorities.

According to Binance, approximately $3 billion was frozen on the blockchain to prevent a large-scale theft. Tether blocked assets worth around $1.6 billion, while Circle announced the freezing of approximately $800 million. The platform stated that it would cover all losses and that users’ funds remain safe.

Chainalysis analysts and industry experts believe that the incident could become the largest cryptocurrency theft in history. The previous record was the attack on the Bybit platform in February 2025, when $1.5 billion was stolen.