Binance has stopped withdrawals after hackers breached its systems and made off with an estimated $6.3 billion, according to The New York Times. The exchange put the figure on the damage itself, ABC News reports. The incident, reported on Friday, October 30, 2026, is being described as the largest hack in the history of cryptocurrency.
Coverage of the breach has spread quickly. The BBC has published an explainer addressing who might be responsible, whether customer funds are safe and what is known so far. The Wall Street Journal reports that evidence in the case points toward North Korea, a familiar suspect in major crypto thefts, though the outlet stops short of a definitive finding.
The fallout has reached beyond digital assets. CNBC reports that Nasdaq futures fell as investors moved into safer positions, a reaction it frames as a technology scare trade, while crypto markets absorbed the shock of the record-sized theft.
Binance has not said publicly when withdrawals will resume, and no timeline for restoring normal service has been reported. The suspension leaves users unable to move funds off the platform while the exchange assesses the damage.
What to watch next: whether Binance issues a fuller account of how the breach happened and when it will reopen withdrawals, and whether investigators formally tie the theft to North Korea.
