Binance pledges to cover losses after US$6 billion crypto hack

South China Morning Post - Oct 30, 2026

Binance, the world’s largest cryptocurrency exchange by trading volume, has pledged to cover all losses from a hack that it said drained around US$6.3 billion from its wallet. At that scale, it would be the biggest crypto theft on record, surpassing the US$1.5 billion stolen from Dubai-based exchange Bybit in February 2025, a theft the FBI attributed to North Korea. Binance said in a post on X on Friday that it had suspended all deposits and withdrawals while its team conducts security checks,...

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