Binance hit by $6.36 billion crypto theft in 20 minutes; North Korean hacker group suspected

Binance, regarded as the world's largest cryptocurrency exchange, has been hit by a major cyberattack. According to preliminary information, the hackers planned the operation carefully and took cryptocurrency worth $6.36 billion from various digital wallets in just 20 minutes. In Indian currency, the amount works out to more than Rs 60,000 crore. The theft has caused panic among crypto investors worldwide, and US investigating agencies and international security bodies are on alert.

According to a report by US blockchain intelligence firm TRM, the hackers carried out the job with great cunning. The stolen assets were quickly moved across 10 different blockchain networks to make them extremely hard to trace. The scale of the theft drew global attention immediately. In February 2025, $1.5 billion had been stolen from the Bybit exchange, but the attack on Binance has broken all earlier records.

US blockchain companies TRM and Chainalysis, which are investigating the attack, have pointed to TraderTraitor, a hacker group linked to North Korea. International security experts say North Korean hacker groups have been targeting the world's big crypto exchanges continuously for the past few years. It has long been alleged that billions of dollars stolen in this way are used to fund North Korea's covert economic activities and its nuclear programme.

Binance has so far not directly and officially blamed any country or organisation. Even so, the White House and the FBI are taking the matter very seriously. US President Donald Trump, speaking to reporters, made clear that a deep investigation is under way. Given the scale of the attack, a link to international politics and to funding for the nuclear programme is considered highly likely.

Binance Co-CEO Richard Teng explained the incident. According to him, the preliminary investigation suspects that hackers got in because of a security flaw in a company employee's laptop. The hackers targeted the company's hot wallets. In the crypto world, hot wallets are connected directly to the internet and are used for customers' daily transactions, buying and selling. Cold wallets, by contrast, are completely separate from the internet and stay offline, so they are considered safer. The hackers breached the security of the internet-connected hot wallets and took the $6.36 billion. Analysts claim the hackers used mixers and tumbler technology to hide the money.

After the disappearance of billions of dollars, concern spread among Binance's crores of customers. But the company immediately issued a statement to reassure them. Binance says customers' deposits are completely safe and that it will cover all losses from the attack from its emergency funds.

According to the company, with the help of blockchain partners and other international organisations, Binance has managed to freeze about $3 billion, roughly 50 per cent of the total stolen amount, in various accounts. The company is working with investigating agencies around the world to trace the remaining funds. It has also promised to restart suspended services in phases soon.