# Binance $6.3 Billion Theft

> Binance lost $6.3 billion in 20 minutes as North Korea-linked hackers breached its withdrawal system.
- Title: Binance $6.3 Billion Theft · Scroll | Shortify
- Summary: Binance lost $6.3 billion in 20 minutes as North Korea-linked hackers breached its withdrawal system. Binance recovered 95% of stolen crypto assets after…
- Keywords: binance, cryptocurrency, north korea, crypto theft, withdrawal system, blockchain, stablecoins, ai cybercrime, financial stability, regulation, india, Scroll
- Source: Scroll — https://scroll.in/article/1096868/binance-6-3-billion-stolen-in-20-minutes-is-a-wake-up-call-for-cryptocurrency-users
- Author: Iwa Salami, The Conversation
- Published: 2026-11-04T16:30:00+00:00
- Read time: 1 min
- Topics: binance, cryptocurrency, north korea, crypto theft, withdrawal system, blockchain, stablecoins, ai cybercrime, financial stability, regulation, news, india
## Binance Cyberattack
Binance reported a potential $6.3 billion crypto theft in 20 minutes on October 29, 2026.

> The cyberattack on crypto-asset exchange Binance is potentially the largest theft of its kind on record
## Assets Moved Quickly
Large crypto amounts transferred across multiple blockchain networks within 20 minutes.
## Binance Response
Binance suspended deposits and withdrawals to cover losses using emergency funds.

> Binance temporarily suspended deposits and withdrawals telling users that it would cover losses using its emergency protection fund and corporate resources
## Funds Frozen
Binance froze $3 billion of stolen assets by October 30, 2026.

> Around US$3 billion of the affected assets was frozen by October 30, according to Binance
## Recovery Progress
Binance restored 95% of stolen assets by November 1, 2026.

> As of November 1, Binance says it has restored 95% of the stolen assets
## Attack Origin
Investigators point to North Korea-linked cybercriminals breaching withdrawal systems.

> Investigators say that indicators point to North Korea-linked cybercriminals
## Withdrawal System Compromise
Attackers compromised Binance's signing infrastructure to authorise unauthorized transactions.

> The emerging explanation points primarily to a compromise of the systems that authorise withdrawals in Binance
## EIP-7702 Feature
Ethereum's EIP-7702 feature enabled attackers to move assets through compromised authorizations.

> Investigators observed that authorisations linked to this feature had apparently enabled attacker-controlled code to move assets
## Security Implications
Crypto exchanges need stronger cybersecurity as blockchain security differs from ecosystem security.

> A central lesson is that the security of a blockchain must be distinguished from the security of the wider ecosystem built around it
## Key takeaway

Binance recovered 95% of stolen crypto assets after North Korea-linked hackers compromised withdrawal authorizations.