The world’s largest cryptocurrency exchange, Binance, has been hit by a major cyberattack in which hackers reportedly transferred cryptocurrency worth $5.7 billion, raising concerns about what could become the biggest heist in crypto history.
According to international media reports, the incident prompted Binance to freeze approximately $3 billion in assets linked to the suspected breach as its security teams launched an investigation.
The estimated value of assets affected by the cyberattack has reached around $6.3 billion, although the full extent of the incident remains under investigation.
Despite the scale of the reported breach, Binance has assured customers that their funds remain safe. The exchange has also acknowledged technical difficulties affecting cryptocurrency withdrawals following the incident.
In response to the security concerns, Binance temporarily suspended its Alpha trading service while its teams worked to address the situation.
Meanwhile, cryptocurrency issuers Tether and Circle reportedly froze assets worth approximately $2.38 billion linked to the suspected hack, as efforts to contain the incident continued.
The identities of those responsible for the attack remain unknown, and no further details about the perpetrators have been disclosed.
The incident has also triggered concerns across cryptocurrency markets, with Bitcoin and several other digital currencies reportedly experiencing sharp price declines following news of the breach.
The potential $6.3 billion impact has placed the incident among the largest reported security breaches in cryptocurrency history, while investigations continue to establish the full circumstances and financial consequences.
