Binance Loses $6.3B in 20-Minute Crypto Heist
Original: The $6.3 Billion Binance Hack Was Pulled Off in Just 20 Minutes
Why This Matters
At $6.3B, this would nearly double North Korea's total known crypto haul.
Hackers drained ~$6.3B in crypto from Binance hot wallets across 10+ blockchains on Oct. 29, 2026, in roughly 20 minutes. Three tracing firms suspect North Korea's TraderTraitor group. About half the funds have been frozen.
What appears to be the largest crypto theft in history hit Binance on October 29, 2026, starting around 4pm ET. Attackers drained approximately $6.3 billion in cryptocurrency from hot wallets spread across at least ten blockchains—including Ethereum, Bitcoin, Tron, and Solana—funneling the funds to addresses controlled by a single attacker. The bulk of the theft occurred in roughly 20 minutes, according to TRM Labs analysis.
Preparation was methodical. TRM says the attacker began staging the operation at least 36 hours before the strike, testing withdrawal code on small wallets before deploying a final version on a Binance hot wallet just four hours after a full dress rehearsal.
Binance suspended all deposits and withdrawals immediately after detecting the breach and says roughly half the stolen funds have been frozen in coordination with other crypto firms. The remaining balance may be unrecoverable.
Three crypto tracing firms—TRM Labs, Chainalysis, and Elliptic—have independently flagged similarities to past TraderTraitor operations, a North Korean elite hacking unit known for high-value, low-frequency attacks. "If North Korea is behind it, this one theft would almost double everything the regime has stolen in crypto to date," Elliptic cofounder Tom Robinson told WIRED. Neither Binance nor law enforcement has officially named a suspect.