Recap: How Binance’s record $6.3B hack unfolded
A recap of Cointelegraph’s live coverage of the Binance hack, including early breach reports and the exchange’s full reimbursement pledge.
This recap summarizes Cointelegraph’s reporting on the Binance hack and has been updated with the exchange’s latest statements. The investigation is ongoing, and figures and recovery timelines may change. See our archived live coverage for the original timeline.
Hackers stole about $6.3 billion from Binance on Thursday, in what is now the largest cryptocurrency theft on record. Industry partners have frozen roughly $3 billion in affected assets, while customers await the reopening of withdrawals.
TRM Labs traced the first unauthorized transfers to around 8:05 pm UTC Thursday, with Binance wallets drained across multiple blockchains. The attackers targeted hot wallets, which exchanges keep connected to the internet to process withdrawals.
